Trends In Mutual Fund Investing
February 2008

Washington, DC, March 27, 2008 - The combined assets of the nation's mutual funds increased by $14.37 billion, or 0.1 percent, to $11.742 trillion in February, 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)

	Feb 08	Jan 08	% chg	Dec 07
Stock Funds	5,966.7	6,037.1R	-1.2	6,528.0
Hybrid Funds	682.3	690.8R	-1.2	714.3
Taxable Bond Funds	1,348.6	1,337.6R	0.8	1,305.5
Municipal Bond Funds	362.4	379.6R	-4.6	373.9
Taxable Money Market Funds	2,914.7	2,804.4R	3.9	2,650.0
Tax-Free Money Market Funds	467.7	478.5	-2.3	467.6
Total	11,742.4	11,728.0R	0.1	12,039.4

R=Revised data

Highlights: Long-term funds - stock, bond, and hybrid funds - had a net inflow of $27.64 billion in February, vs. an outflow of $22.12 billion in January.

Stock funds posted an inflow of $9.51 billion in February, compared with an outflow of $44.87 billion in January. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $5.89 billion in February, vs. an outflow of $9.23 billion in January. Funds that invest primarily in the US had an inflow of $3.62 billion in February, vs. an outflow of $35.64 billion in January.

Hybrid funds posted an inflow of $3.26 billion in February, compared with an outflow of $1.48 billion in January.

Bond funds had an inflow of $14.87 billion in February, compared with an inflow of $24.23 billion in January. Taxable bond funds had an inflow of $13.66 billion in February, vs. an inflow of $21.72 billion in January. Municipal bond funds had an inflow of $1.21 billion in February, compared with an inflow of $2.51 billion in January.

Money market funds had an inflow of $92.16 billion in February, compared with an inflow of $160.42 billion in January. Funds offered primarily to institutions had an inflow of $70.05 billion. Funds offered primarily to individuals had an inflow of $22.11 billion.

Net New Cash Flow of Long-Term Funds
(millions of dollars)

	Feb 2008	Jan 2008	YTD 2008	YTD 2007
New Sales	117,549	158,572R	276,121	267,795
Redemptions	-104,348	-185,153R	-289,501	-209,586
Exchanges In	13,100	21,547R	34,647	39,048
Exchanges Out	-16,790	-39,835R	-56,625	-40,983
Net New Cash Flow	9,511	-44,870R	-35,359	56,274

Hybrid Mutual Funds

New Sales	14,405	19,061R	33,466	27,637R
Redemptions	-11,109	-19,265R	-30,375	-20,740R
Exchanges In	1,538	2,460R	3,999	3,512R
Exchanges Out	-1,572	-3,735R	-5,306	-3,270R
Net New Cash Flow	3,262	-1,479R	1,784	7,140R

Taxable Bond Mutual Funds

New Sales	43,034	56,014R	99,049	66,092
Redemptions	-30,999	-41,383R	-72,382	-43,469
Exchanges In	6,134	12,521R	18,655	9,169
Exchanges Out	-4,506	-5,433R	-9,939	-7,618
Net New Cash Flow	13,664	21,719R	35,383	24,174

Municipal Bond Mutual Funds

New Sales	7,236	8,022R	15,257	15,066
Redemptions	-5,912	-6,242R	-12,154	-9,305
Exchanges In	1,766	2,375R	4,141	2,043
Exchanges Out	-1,885	-1,642R	-3,526	-1,855
Net New Cash Flow	1,205	2,513R	3,718	5,949

Net New Cash Flow of Money Market Funds
(millions of dollars)

Feb 08	Jan 08	YTD 2008	YTD 2007
92,158	160,423R	252,581	23,561

Liquid Assets of Stock Mutual Funds
(percent of total net assets)

Feb 08	Jan 08	Feb 07
4.2%	4.1%	3.9%

Annual Redemptions from Stock Funds
(percent of average net assets*)

Feb 08	Jan 08	Feb 07
24.7%	24.3%R	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*)

Feb 08	Jan 08	Feb 07
29.45	29.09%	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

	Feb 08	Jan 08	Feb 07
Stock Funds	4,799	4,781	4,783R
Hybrid Funds	489	491	491R
Taxable Bond Funds	1,299	1,296R	1,286
Municipal Bond Funds	672	675	707
Taxable Money Market Funds	556	553	576
Tax-free Money Market Funds	260	259	269
Total	8,075	8,055R	8,112R

R=Revised data