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Investing December 28, 2001
Investors Swarm To International Funds in November
December 28, 2001 (PLANSPONSOR.com) - Stock funds
enjoyed a massive turnaround in November, as investors
brought in nearly $15 billion compared with an inflow of less
than $1 billion the month before, according to the Investment
Company Institute (ICI).
Reported by Nevin E. Adams
Much of the difference came from international funds, which saw inflows of $1.87 billion compared with a $4.26 billion outflow in October. Domestic stock funds had an inflow of $13.08 billion in November, compared with an inflow of $5.19 billion the month before.
Bond funds suffered, pulling in just $6.55 billion in November, after a previous monthly inflow of $13.52 billion.
Money market funds had cash flow of $60.24 billion in November, compared with cash flow of $73.85 billion in October.
Overall, the combined assets of the nation?s mutual funds increased by 4.7% to $6.927 trillion in November, according to ICI. Assets of stock funds rose by 7.6% to $3.35 trillion.
Year-to-date, net new flows to stock funds are $29.3 billion, in contrast to flows of $298 billion for the same period last year, according to ICI. Bond funds have collected $89 billion in net flows this year, compared with an outflow of $48.4 during the same period in 2000.