Investing April 29, 2004

ICI: Funds Fall Back in March

After six months of rising mutual fund asset levels, funds lost ground slightly in March.
Reported by

The March decrease of $6.3 billion , or 0.1%, to $7.62 billion compares to February’s gain of $97 billion (See  ICI: Mutual Fund Assets Higher in February ) and January’s 1.6% increase, according to data from the Investment Company Institute (ICI).

Stock funds enjoyed an inflow of $3.88 billion in March, down from the previous month’s showing of $3.89 billion.

The big winner was the taxable bond category, which increased 1.9% in March to $939 million.

The biggest losers were tax-free money funds, which lost 1% to $297 million, while hybrid funds were down 0.6% to $455 million and taxable money market funds fell 0.4% to $1.7 billion.

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