Investors put $136 billion into stock and bond mutual funds in the second quarter, posting the best quarter of long-term fund inflows in more than two years. Net inflows to exchange traded funds totaled $14 billion, bringing inflows for the second quarter to $151 billion, according to a report released today by Strategic Insight, the mutual fund research firm.

Bond funds shone, seeing net gains of almost $90 billion. That money was funneled mostly to taxable bond funds as investors shifted assets away from near-zero yielding cash instruments, Strategic Insight said. Investors poured $47 billion into the equity markets as stock prices increased, as reflected by a 15% gain in the Standard & Poor’s 500 during the same period.

Fund inflows include traditional mutual funds and funds in variable annuities, but not ETFs, Strategic Insight said. “Stock and bond funds are the core of the fund industry, and the robust inflows to both the second quarter are a testament to the long-term perspective of most fund investors,” said Avi Nachmany, Strategic Insight’s director of research.