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Investing October 27, 2005
Mutual Funds Continue Robust Growth in September
October 27, 2005 (PLANSPONSOR.com) - Stock and bond
funds experienced a robust net inflow in September of $18.6
billion, following the $17 billion in inflows for August and
$16 billion in July.
Reported by Rebecca Moore
Once again the Financial Research Corporation (FRC) reports that International/Global funds led with $15.2 billion in inflows for the month, following the $11 billion reported for August (See International/Global Funds Return for Repeat August Performance ). Corporate fixed income funds reported inflows of $2.2 billion in September. The FRC data noted by comparison that money market funds experienced a hefty decline of some $17 billion.
By Morningstar category, Intermediate Term Bond funds had estimated inflows of around $3.8 billion. Foreign Large Blend came in second with almost $3 billion in inflows, while Moderate Allocation and Specialty-Natural Resources each reported inflows of almost $2.6 billion.
American Funds far outsold other fund groups again for the month of September with $6 billion in inflows. Vanguard Group ($3.5 billion), Barclays Global Investors Funds ($2.2 billion), PIMCO Funds ($2.1 billion), and Dodge & Cox ($1.7 billion) rounded out the top five.
American Funds also had the top two selling portfolios for the month. Its Growth Fund of America and Capital Income Builder had inflows of $1.5 billion and $1.4 billion respectively. The PIMCO Total Return Fund and the American Funds Cap World Growth & Income were the third and fourth best selling portfolios reporting around $1.2 billion in inflows each.