Trends In Mutual Fund Investing
March 2008Washington, DC, April 29, 2008 - The combined assets of the nation's mutual funds decreased by $24.1 billion, or 0.2 percent, to $11.734 trillion in March, according to the Investment Company Institute's official survey of the mutual fund industry. In the survey, mutual fund companies report actual assets, sales, and redemptions to ICI.
Total Net Assets of Mutual Funds
(billions of dollars)
| |
Mar 08 |
Feb 08 |
% chg |
Dec 07 |
Stock Funds |
5,869.9 |
5,964.2R |
-1.6 |
6,528.0 |
Hybrid Funds |
676.4 |
682.3R |
-0.9 |
714.3 |
Taxable Bond Funds |
1,348.0 |
1,348.6R |
0.0 |
1,305.5 |
Municipal Bond Funds |
372.8 |
362.4R |
2.9 |
373.9 |
Taxable Money Market Funds |
2,979.9 |
2,933.3R |
1.6 |
2,650.0 |
Tax-Free Money Market Funds |
487.3 |
467.7 |
4.2 |
467.6 |
Total |
11,734.3 |
11,758.4R |
- 0.2 |
12,039.4 | R=Revised data Highlights: Long-term funds - stock, bond, and hybrid funds - had a net inflow of $43 million in March, vs. an inflow of $27.80 billion in February. Stock funds posted an outflow of $10.14 billion in March, compared with an inflow of $9.59 billion in February. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an outflow of $929.0 million in March, vs. an inflow of $5.95 billion in February. Funds that invest primarily in the US had an outflow of $9.21 billion in March, vs. an inflow of $3.64 billion in February. Hybrid funds posted an inflow of $207.0 million in March, compared with an inflow of $3.27 billion in February. Bond funds had an inflow of $9.98 billion in March, compared with an inflow of $14.94 billion in February. Taxable bond funds had an inflow of $7.43 billion in March, vs. an inflow of $13.73 billion in February. Municipal bond funds had an inflow of $2.55 billion in March, compared with an inflow of $1.21 billion in February. Money market funds had an inflow of $56.80 billion in March, compared with an inflow of $96.08 billion in February. Funds offered primarily to institutions had an inflow of $28.47 billion. Funds offered primarily to individuals had an inflow of $28.33 billion.
Net New Cash Flow of Long-term Funds
(millions of dollars)
Stock Mutual Funds
| |
Mar 2008 |
Feb 2008 |
YTD 2008 |
YTD 2007 |
New Sales |
112,293 |
117,277R |
388,089 |
391,316 |
Redemptions |
-114,456 |
-104,002R |
-403,342 |
-318,575 |
Exchanges In |
12,278 |
13,099R |
46,923 |
55,238 |
Exchanges Out |
-20,257 |
-16,784R |
-76,879 |
-63,595 |
Net New Cash Flow |
-10,142 |
9,591R |
-45,209 |
64,384 |
Hybrid Mutual Funds
New Sales |
14,819 |
14,382R |
48,261 |
40,603R |
Redemptions |
-13,625 |
-11,080R |
-43,970 |
-30,996R |
Exchanges In |
1,768 |
1,537R |
5,766 |
5,187R |
Exchanges Out |
-2,755 |
-1,570R |
-8,060 |
-4,981R |
Net New Cash Flow |
207 |
3,270R |
1,998 |
9,814R |
Taxable Bond Mutual Funds
New Sales |
44,317 |
43,005R |
143,338 |
101,451 |
Redemptions |
-39,993 |
-30,892R |
-112,263 |
-69,476R |
Exchanges In |
7,651 |
6,123R |
26,294 |
18,172 |
Exchanges Out |
-4,550 |
-4,506 |
-14,492 |
-13,867R |
Net New Cash Flow |
7,425 |
13,730R |
42,877 |
36,280R |
Municipal Bond Mutual Funds
New Sales |
8,710 |
7,225R |
23,956 |
22,622 |
Redemptions |
-6,974 |
-5,893R |
-19,109 |
-14,307 |
Exchanges In |
2,287 |
1,765R |
6,428 |
3,113 |
Exchanges Out |
-1,470 |
-1,885 |
-4,997 |
-2,633 |
Net New Cash Flow |
2,553 |
1,212R |
6,278 |
8,796 |
Net New Cash Flow of Money Market Funds
(millions of dollars)
Mar 08 |
Feb 08 |
YTD 2008 |
YTD 2007 |
56,789 |
96,084R |
315,300 |
47,983 |
Liquid Assets of Stock Mutual Funds
(percent of total net assets)
Mar 08 |
Feb 08 |
Mar 07 |
4.3% |
4.2% |
3.6% |
Annual Redemptions from Stock Funds
(percent of average net assets*)
Mar 08 |
Feb 08 |
Mar 07 |
24.8% |
24.7% |
19.5% | *Redemptions over the most recent twelve-month period as a percent of average of total net assets at beginning and ending of period.
Annual Redemptions and Redemption Exchanges from Stock Funds
(percent of average net assets*)
Mar 08 |
Feb 08 |
Feb 07 |
29.50 |
29.45 |
23.57 | *Redemptions and Redemption Exchanges over the most recent twelve-month period as a percent of average of total net assets at beginning and ending of period.
Number of Mutual Funds in this Report
| |
Mar 08 |
Feb 08 |
Mar 07 |
Stock Funds |
4,809 |
4,800R |
4,770R |
Hybrid Funds |
482 |
486R |
485R |
Taxable Bond Funds |
1,296 |
1,298R |
1,285R |
Municipal Bond Funds |
667 |
672 |
699 |
Taxable Money Market Funds |
553 |
556 |
571 |
Tax-free Money Market Funds |
257 |
260 |
264 |
Total |
8,064 |
8,072R |
8,074R | R=Revised data
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