NEW YORK, May 28 (Reuters) - U.S. stock mutual funds took in far less new cash in May than in April as investors apparently grew more conservative in the face of market volatility, a fund-flow tracking service said Thursday.
Based on data through May 27, Mutual Fund Trim Tabs projected that the flows into equity funds will total $5.9 billion for May.
For April, equity funds took in $26.55 billion in new cash, according to a report from the Investment Company Institute.
``It's very down from April,'' said Carl Wittnebert, Mutual Fund Trim Tabs director of research. ``I think it's the volatility.''
Through Wednesday, U.S. stock funds at Charles Schwab & Co. took in $198 million, compared with $848 million during April, Schwab spokesman Greg Gable said.
Aggressive-growth stock funds had a net outflow of $165 million for the month through Wednesday, Gable said, while bond funds took in $251 million in new cash.
At T. Rowe Price Associates Inc., emerging-markets funds ``are still seeing a bit of outflow,'' spokeswoman Rowena Itchon said, while money-market funds ``had a pretty good month.''
INVESCO Funds Group Inc. spokeswoman Colleen Noth said investors in May seemed ``kind of neutral'' on equities, but very interested in high-yield bond funds.
Even though less new cash flowed into stock funds in May than in April, Wittnebert noted that inflows for the year to date still were about even with the same period in 1997.