Investors charged back into taxable bond funds after a significant pullback in early March, according to the latest statistics from the Investment Company Institute. For the week ended March 20, investors steered an estimated $6.23 billion into taxable bond funds, more the three times the $1.97 billion they put into the funds a week earlier.

The funds were the largest recipients of inflows for the week. Equity funds came in second, taking in an estimated $5.0 billion, up 29% from $3.86 billion from the week before. Of the $5.0 billion, an estimated $3.75 billion went to global equity funds with the remaining $1.25 billion going to U.S. funds.

Hybrid funds, which invest in both stocks and bonds, drew $1.41 billion in estimated inflows, down 32% from $2.07 billion a week earlier.

All told, mutual funds posted a decent week, attracting an estimated $12.36 billion, their largest inflow since early February. 

The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI.  The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.

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