Investing October 30, 2006

Mutual Funds Continue Growth in September

October 30, 2006 (PLANSPONSOR.com) - Assets of US mutual funds increased by $137.5 billion, or 1.4%, to $9.722 trillion in September, according to data from the Investment Company Institute (ICI).
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The growth was modest compared to the $206.8 billion increase in August (See Equity Funds’ Asset Inflow Takes a Leap in August ). Long-term funds – stock, bond, and hybrid funds – had a net inflow of $11.71 billion in September, versus an inflow of $11.93 billion in August, ICI data showed.

Stock funds posted an inflow of $6.47 billion in September, compared with an inflow of $5.06 billion in August. World equity funds (US funds that invest primarily overseas) posted an inflow of $9.43 billion in September, while funds that invest primarily in the US had an outflow of $2.97 billion for the month.

Bond funds had an inflow of $4.60 billion in September, compared with an inflow of $6.64 billion in August. The bulk of the inflow is attributable to taxable bond funds which had an inflow of $3.24 billion in September, versus an inflow of $5.20 billion in August. Municipal bond funds had an inflow of $1.37 billion in September, compared with an inflow of $1.44 million in August.

Money market funds recorded an inflow of $15.47 billion in September – well below the inflow of $42.87 billion in August. Funds offered primarily to institutions had an inflow of $10.29 billion, while funds offered primarily to individuals had an inflow of $5.18 billion.

Hybrid funds posted an inflow of $640 million in September, compared with an inflow of $236 million in August.

More ICI statistics can be viewed here .

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