Fund Assets Flat in September

October 31, 2003 ( - The combined assets of the nation's mutual funds were down a tick (-0.3%), or $22.1 billion, to $6.94 trillion in September, according to data from the Investment Company Institute (ICI).

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.