Total mutual fund assets totaled $7.234 trillion at month end. Assets in stock funds surged by $129.70 billion, while net new cash flows of $24.58 billion were more than twice December’s tepid pace.
Money market mutual funds also increased by $109.9 billion, largely (80%) from institutional funds, with $82.47 billion in net new cash flows to the category.
Among stock funds net new cash flow totaled:
- $7.65 billion to aggressive growth funds, up from $2.53 billion in December
- $8.27 billion to growth funds, up from December’s $6.17 billion
- $1.56 billion to sector funds, double the $776 million in December
- $3.51 billion to growth and income funds, nearly 5 times last month’s inflow
- $3.79 billion to international funds, far more than the $268 million in December
Hybrid funds enjoyed a turnaround, attracting $1.19 billion of new net cash flow, compared with December’s $1.62 billion outflow.
Taxable bond funds drew $7.57 billion in January, compared with an outflow of $955 million in December, while municipal bond funds had an inflow of $1.03 billion, in contrast to December’s $275 million inflow.