Equity funds grew at a brisk pace in August, buoyed by investorsÂ’ confidence in both the domestic and global economy, according to statistics released last week by the Investment Company Institute.

Investors accelerated their already robust purchases of domestic and global equity funds as they withdrew money from bond funds of all types, the Washington research group said. Stock mutual funds saw $23.4 billion of new money arrive, a jump from the $17.3 billion influx in July, the institute said. Inflows were strong both in aggressive growth funds, which saw $8.22 billion of new money, up from $6.67 billion in July, and in more moderate growth funds, which gained $11.43 billion, up from $10.37 billion.

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