Funds Flow Back to Stock Funds in April: ICI

May 31, 2001 ( - The nation's mutual funds rose another 4.8% in April, totaling $6.945 trillion according to the Investment Company Institute (ICI).

Stock funds led the way, lifted by a $19.253 billion inflow that overcame all but $1 billion of last month’s record outflow.

In total, assets of stock funds rose by $310.6 billion in April, a 9.1% increase. Domestic stock funds pulled in $17.45 billion in April, compared with an outflow of $15.68 billion the previous month.

Stock Surge

Hybrid funds, which include both stocks and bonds, rose 4.4% to $348 billion in total assets, close to the $349.7 billion level reached at the close of 2000. The category enjoyed a $1.357 billion net inflow of funds, compared with a net revised outflow of $301 million the month before.

World equity funds drew a net cash inflow of $1.8 billion during the month, reversing March’s $4.89 billion outflow. In fact, among stock funds, only emerging markets funds suffered an outflow in April, to the tune of $31 million.

Bonds, Money Market Slip

On the other hand, money market mutual funds lost $3.85 billion during the month, dipping to $2.031 trillion in total assets. Money market funds offered primarily to institutions reported inflows of $28.17 billion in April.

Taxable bond funds slipped 0.1%, to $566.1 billion, while municipal bond funds slid 1.8% to 280.9 billion in total assets at the end of April.

The ICI data includes information from 8,280 mutual funds, up from a revised 8,249 a month ago.

Last month’s report: