Investing June 29, 2005
Mutual Funds Add $204B in May
June 29, 2005 (PLANSPONSOR.com) - The nation's
mutual funds pulled in a total of $204.3 billion in May for
an asset total of $8.12 trillion up from $7.91 trillion in
April.
Reported by Fred Schneyer
A news release from the Investment Company Institute (ICI) said stock funds led the way over the month with a 3.8% increase from $4.24 trillion in April to $4.40 trillion in May
ICI data showed that tax-free money market funds bulled ahead by 3% in May to $315.5 billion while hybrid funds saw a 2.3% advance to $535.9 billion
Meanwhile, according to ICI, taxable bond funds were slightly ahead by 1.4% to $987.5 billion while muni bond funds were nearly flat for the month with a 0.8% gain to $334 billion.
The ICI report is here .