That was the biggest withdrawal since last September’s record near $30 billion withdrawal, and the third-largest ever on a dollar basis – but was only about half of one percent of the total assets as of May 2002, according to the Investment Company Institute (ICI).
It was a mirror image for bond investment, where the net
June inflow of $12.23 billion was the third-largest ever,
and largest since last October. Bond funds had
enjoyed a $10.60 billion net inflow in May (see
Mutual Fund Assets
Shrink in May
Institutional investors pulled massive amounts out of money market funds, which saw $43.33 billion depart during June, more than $42 billion of which was from institutional hands. Money market funds saw just $4.3 billion leave in May.
International equity funds once again managed to run against the general equity currents, garnering a $658 million net inflow. That was down significantly from the $2.1 billion net inflow in May, but in line with April’s $667 million.
Overall the combined assets of the nation’s mutual funds decreased by $291.6 billion in June to $6.632 trillion in June, according to the ICI.
« UIT Deposits Slid in June