Worldwide Mutual Fund Assets Top $14 Trillion in Q3 2004

February 18, 2005 ( - Total worldwide mutual fund assets reached $14.47 trillion by the end of the third quarter 2004, according to the Investment Company Institute (ICI).

This amount was similar to the quarter before it, according to a  press release from the company. The net cash flow to all funds worldwide was $22 billion in the quarter, with long-term funds experiencing inflows while money markets saw outflows overall.

Bond and balanced funds grew in size on the quarter, according to ICI. Bond fund assets grew 2.2% on the quarter, riding the back of a $19 billion inflow. The Americas and Europe saw net inflows, while Asia/Pacific saw net outflows. Balanced/mixed funds rose 2% on the quarter with net inflows of $13 billion.

Money market and equity funds were down on the quarter, however. Equity funds worldwide held $6.3 trillion, a small amount below the figure for the end of the second quarter. Although the quarter saw net inflows of $40 billion, the faltering US equity market brought down the total value slightly from the quarter before. All regions contributed to the net inflows, with the Americas bringing in $24 billion, Europe $5 billion and Asia/Pacific and Africa $11 billion.

Equity funds made up 43% of worldwide mutual fund assets at the end of the quarter, according to ICI. America had 57% of all mutual fund assets at the end of the same time frame.

Money market funds saw total assets fall 1.6% in the third quarter, pulled down by a net outflow of $55 billion. Most of this came from America, which saw a $52 billion outflow.