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Investing December 28, 2006
Mutual Fund Growth in November Similar to October
December 28, 2006 (PLANSPONSOR.com) - Combined
assets of the nation's mutual funds increased by $265.3
billion, or 2.6%, to $10.281 trillion in November, according
to the Investment Company Institute's (ICI) survey of the
mutual fund industry.
Reported by Rebecca Moore
The increase is just slightly lower than the $286.6 billion in October that brought total assets over the $10 trillion mark (See Funds Cross $10 Trillion Asset Mark in October ).
Long-term funds – stock, bond, and hybrid funds – had a net inflow of $20.82 billion in November, compared to an inflow of $24.73 billion in October, ICI data showed.
Stock funds posted an inflow of $11.30 billion in November, versus $12.73 billion in October. US funds that invest primarily overseas posted an inflow of $11.47 billion for the month, while funds that invest primarily in the US had an outflow of $169 million.
Bond funds had an inflow of $7.31 billion in November. Taxable bond funds saw an inflow of $5.21 billion, while municipal bond funds had an inflow of $2.10 billion for the month.
Hybrid funds saw an inflow of $2.20 billion in November, compared to an inflow of $1.60 billion in October.
Money market funds had an inflow of $55.01 billion in November, significantly more than the inflow of $30.83 billion reported in October. Funds offered primarily to institutions experienced an inflow of $45.34 billion, while funds offered primarily to individuals posted an inflow of $9.67 billion.
The complete ICI data is here .