FRC: Domestic Equity Funds Led in November

December 28, 2004 ( - Stock and bond mutual funds enjoyed a $19-billion asset boost in November with domestic equities offerings leading the way, according to Financial Research Corp (FRC).

According to FRC, Domestic Equity funds showed a $13.2 billion November inflow, on top of October’s $8.7-billion advance. International/Global funds sprung ahead by $10.7 billion after gaining $7.2 billion the month before. FRC said Corporate fixed income showed a gain just over $1 billion over the month after advancing $3.2 billion in October while Government bond funds gave up $2.1 billion in November after losing $141 million the month before.

Examining the results by fund category, Moderate Allocation funds led the way with a $3.03-billion advance, followed by Mid-Cap Value ($3 billion), World Allocation ($2.4 billion), Foreign Large Growth ($2 billion) and Foreign Large Blend ($1.6 billion). High Yield muni funds brought up the rear in November, gaining only $432 million in assets.

Among fund families, American Funds was at the head of the pack with a $7.6-billion November inflow followed by Barclays Global Investors Funds ($6.3 billion), State Street Global Advisors ($4.9 billion), Fidelity Investments ($2.5 billion) and The Vanguard Group ($2.02 billion). Ranked by November assets, the fund families are as follows:

  • The Vanguard Group ($683 billion)
  • Fidelity Investments ($656 billion)
  • American Funds ($630 billion)
  • Franklin Distributors ($215 billion)
  • PIMCO Funds ($161 billion).

The best-selling fund offerings in November in terms of inflows, according to FRC, were:

  • State Street Global Advisors SPDRs   ($3.6 billion)
  • American Funds Growth Fund American ($1.55 billion)
  • State Street Global Advisors StreetTRACKS Gold ($1.51 billion)
  • American Funds Capital Income Builder ($1.2 billion)
  • American Funds Capital World Growth & Income ($1.09 billion).