Investing June 29, 2004

May Fund Assets Up $32B

June 29, 2004 (PLANSPONSOR.com) - The nation's mutual funds bulked up in assets in May, adding $32.8 billion for a total of $7.5 trillion, according to data from the Investment Company Institute (ICI).
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Equity funds were up 1.1%, $564 million, in May to $3.85 trillion (after a $22.96 billion April inflow) with hybrid funds following close behind with a 1%, or $2.28 billion, May jump to $456.9 billion (after a $4.58 billion April inflow), the ICI said.

Total return equity funds and world equity funds had inflows of $1.89 billion and $1.35 billion, respectively. Capital appreciation offerings had a $2.68 billion outflow after April’s $8.55 billion inflow.

Bonds funds suffered a $16.15 billion May setback after a $7.79 billion April outflow. Taxable bond funds were hit with an $11.15 billion May outflow. Money market funds had a net inflow of $6.54 billion in May, after April’s outflow of $46.3 billion.

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