For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Investing March 31, 2009
Mutual Fund Flows Back Track in February
March 31, 2009 (PLANSPONSOR.com) - The combined
assets of the nation's mutual funds decreased by $372.1
billion, or 4%, to $9.036 trillion in February, according to
the Investment Company Institute (ICI).
Reported by Rebecca Moore
Long-term funds – stock, bond, and hybrid funds – had a net outflow of $12.13 billion in February, vs. an inflow of $25.02 billion in January (see Sales not Enough to Counter Losses to Mutual Funds ).
Stock funds posted an outflow of $25.03 billion in February, compared with an inflow of $8.92 billion in January. Among stock funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $10.76 billion in February, while funds that invest primarily in the U.S. had an outflow of $14.27 billion, ICI data showed.
Money market funds, which have been popular during the market turmoil of the past year and saw an inflow of $59.47 billion in January, had an outflow of $6.44 billion in February. Funds offered primarily to institutions had an outflow of $1.11 billion, and funds offered primarily to individuals had an outflow of $5.33 billion.
The investor’s choice for the month was bond funds, with an inflow of $17.15 billion. Taxable bond funds had an inflow of $12.82 billion, while municipal bond funds had an inflow of $4.34 billion.
Hybrid funds posted an outflow of $4.25 billion in February.
The ICI data is here .
« Merrill Hit with FL City Pension Lawsuit, Another Possible