Investing November 26, 2002
More Equity Fund Outflows in October
November 26, 2002 (PLANSPONSOR.com) - Domestic equity mutual funds shed $5.8 billion in net outflows in October while fixed-income funds enjoyed $4.7 billion in inflows, according to data from Financial Research Corporation (FRC).
Reported by Fred Schneyer
Among the October highlights in the FRC report:
- intermediate-term bond funds led the way during the month among the top 20 fund categories with $1.59 billion in net inflows ($30.94 billion year to date)
- the Vanguard Group ($463 billion) and Fidelity Investments ($457 billion) continued to top the fund group list in terms of assets
- American Funds did the best among fund groups during the month in terms of monthly net inflows at $1.8 billion while PIMCO followed at $1.6 billion. Measured year to date, American Funds was on top with $32.9 billion net inflow while PIMCO followed with $24 billion.
- the PIMCO Total Return fund bested its peers among monthly net flows with $1 billion and hung onto the top spot with $12.9 billion year-to-date net inflow showing.
Fund categories also performing well in October, as measured by net flows, included:
- intermediate-term bond ($1.59 billion)
- high yield bond ($1.52 billion)
- short-term bond ($1.5 billion)
- foreign stock ($1.3 billion)
- short-term government ($1.1 billion).
Behind Vanguard and Fidelity in the asset race were:
- American Funds ($312 billion),
- Franklin Distributors Inc. ($146 billion)
- Putnam Investments ($134 billion).
Excluded from the report is all data from Money Market funds.
In September, estimated net flows into stock and bond funds totaled $2.3 billion. (See September Continued Equity Outflows Bond Inflows ).
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