Investing October 24, 2002

September Continued Equity Outflows, Bond Inflows

October 24, 2002 (PLANSPONSOR.com) - Estimated net flows into stock and bond funds totaled $2.3 billion during September 2002, according to data from Financial Research Corporation (FRC).
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Among the highlights in the FRC report:

  • Intermediate-term government bond funds led the way during the month among the top 20 fund categories with $3.89 billion in net inflows ($29.42 billion year to date)
  • The Vanguard Group ($446 billion) and Fidelity Investments ($433 billion) topped the fund group list in terms of assets
  • PIMCO did the best among fund groups during the month in terms of monthly net inflows at $2.7 billion while Vanguard followed at $2.5 billion. Measured year to date; Vanguard was on top with $34.1 billion net inflow while American Funds followed closely with $31.2 billion.
  • The PIMCO Total Return fund bested its peers among monthly net flows with $1.7 billion and hung onto the top spot with $11.9 billion year-to-date net inflow showing.

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Fund categories also performing well in September, as measured by net flows, included:

  • intermediate-term government ($3.7 billion)
  • short-term bond ($2.5 billion)
  • short-term government ($1.6 billion), and
  • muni short-term ($977 million).

Fund Groups

Behind Vanguard and Fidelity in the asset race were:

  • American Funds ($296 billion),
  • Franklin Distributors Inc. ($145 billion), and
  • Putnam Investments ($130 billion).

Measured by monthly net flows, American Funds ($1.7 billion) followed PIMCO and Vanguard. Next were Dodge & Cox Funds ($872 million) and Franklin Distributors ($461 million).

Excluded from the report is all data from Money Market funds.

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