March share market gains erase losses of US mutual funds

Mutual funds' clients are adding putting more money into stocks after two years of decline. Vanguard Group, the second-biggest mutual fund group, said earlier this week sales of stock mutual funds rose to their highest in almost three years. The company expects US$3.8 billion of stock fund sales in March, its strongest month since April 1999.

Emerging market stock funds, with US$34 billion of assets, gained 12 percent.