Funds overall may have given up ground, but several fund categories were able to edge into the black. Leading the way in September were muni bond funds which saw a 1.9% jump in assets to $334.3 billion from August’s revised $328 billion (see ICI: Mutual Funds Tack On 1.5% August Asset Gain ). Sister category taxable bond funds likewise enjoyed a comparatively healthy 1.7% advance for the month to $896.7 billion from the previous month’s revised $881.4 billion.
Hybrid funds also ended September on a positive note with a 1.5% increase to $388.2 billion, from August’s revised $382.3 billion.
Heading the list of losers for the month were taxable money market funds, which gave back 1.9% in September to $1.81 trillion, from August’s revised $1.84 trillion. Tax-free money market offerings came in right on the heels of the taxable money market funds with a 1.8% loss to $287.9 billion, from August’s $293.1 billion.
Equity offerings ticked down slightly (-0.3%) to $3.22 trillion in September from August’s $3.23 trillion.
« FRC: $20.9 Billion Added to Funds in September