Mutual fund companies, just like individual investors, are prone to following the herd. So it's not surprising that, since bond funds attracted nearly $400 billion in 2009--versus a net $9 billion outflow of capital in stock funds--new bond funds are springing up to absorb the surging demand. So far this year, 16 fixed-income funds have launched, according to investment research firm Morningstar, compared to 14 new stock products.
That difference sounds tiny, but it marks a notable swing from 2009, when asset management firms rolled out 179 stock funds and just 72 bond products. To understand how dramatic the change in investment strategy has become, consider this: launches of domestic stock funds outpaced taxable bond funds by more than two to one last year.
Now that bonds are the asset du jour, though, money managers are all too happy to jump on the trend, says mutual fund consultant Geoff Bobroff. "The addition of bond funds is a lagging indicator," he says. "It's following the market." Morningstar analyst Eric Jacobson agrees. "Across the asset management industry, companies that didn't have highly developed bond resources are thinking, we need that," he says. "Even if we have it, we need to be in that space more."
投資者青睞債券，主要是出于心理原因，而不是高回報。金融危機(jī)過后，人們在投資上更偏于多元化。

2009年，債券基金吸引了近4000億美元，之后，新的債券基金正如雨后春筍般產(chǎn)生，以滿足不斷上漲的需求，而同期股票基金中資本外流的凈值為90億美元。這也不足為奇，因?yàn)楹蛡€人投資者一樣，共同基金公司也喜歡隨大流。據(jù)投資研究公司晨星（Morningstar）稱，今年迄今已新增16支固定收益基金，而新增股票產(chǎn)品僅14種。
粗粗看來，兩者差距甚小，但與2009年相比，其間變化可謂巨大。2009年，資金管理公司推出了179只股票基金，而僅推出了72種債券產(chǎn)品。要想了解投資策略的變化之大，不妨看看這個數(shù)字：去年，美國國內(nèi)推出的股票基金數(shù)量，比應(yīng)納稅債券基金的兩倍還多。
共同基金顧問杰夫•博布羅夫（Geoff Bobroff）表示，現(xiàn)在的暢銷資產(chǎn)是債券，基金經(jīng)理們自然樂得緊跟潮流，不過，博布羅夫說道：“債券基金的增加是滯后指標(biāo)。它不過是在追市。”晨星分析師埃里克•雅各布森（Eric Jacobson）同意上述觀點(diǎn)。雅各布森說道：“在資產(chǎn)管理領(lǐng)域，那些債券基金較少的公司覺得他們需要推出債券基金；而即使我們擁有很多債券基金，我們?nèi)孕柰瞥龈啻?br>