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Meanwhile, growth funds' inflow flagged, from $16 billion in November 1999 to $4.4 billion a year later.
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WALL STREET JOURNAL Mutual Funds Inflows Jump | After a streak of outflows, investors in long-term mutual funds added $3.79 billion in a recent week, according to the Investment Company Institute.
That is 11% of all equity fund inflow and enough to double assets in the category, to $177 billion.
Eventually the exchange wants to add additional forms of fund inflow and outflow like ACH transfer, making it easier for the average consumer to deposit or withdraw cash.
In the first quarter, for instance, technology stock funds received 28.3percentt of mutual fund inflows, Mr. Adler said.
The stock-fund inflows at Vanguard were up sharply from $1 billion in the third quarter.
The first quarter, traditionally a time when fund inflows are strong, will be a disappointment, he said.
Mr. Adler said November was the biggest month of the quarter for equity fund inflows, at $10.6 billion.
Then he estimates the average cost of investors' domestic mutual fund purchases by analyzing equity fund inflows.
Bond fund inflows were the highest since 1986, with $87 billion in new cash; assets stood at $924 billion at year-end.
"There are a lot of abnormal factors, including underground banking, illegal fund inflows and outflows," he told reporters in Singapore.
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