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Investing March 27, 2002
Bond Fund Flows Flourish, While Stocks Slow in February
March 27, 2002 (PLANSPONSOR.com) - The combined
assets of America's mutual funds fell to $6.92 trillion in
February, from $6.97 trillion in the previous month,
according to data from the Investment Company Institute
(ICI).
Reported by Camilla Klein
Some $4.69 billion flowed into stock funds over the month, significantly lower than January’s inflow of $20.05 billion, and bringing year to date inflows to $21.7 billion, slightly higher than the comparable period in 2001.
An outflow of $2.89 billion in funds that invest overseas offset an increase of $7.58 billion in domestic fund inflows.
On the fixed income side, bond funds attracted some $10.7 billion in new money in February, slightly up from the $10.5 billion recorded the previous month, while money market funds shed $5.45 billion in assets in February, compared to an inflow of $14 billion the previous month.
Over the month, money funds aimed primarily at institutions had outflows to the tune of $10.12 billion, while funds marketed to individuals saw inflows of $4.67 billion.