Trends In Mutual Fund Investing
April 2008

Washington, DC, May 29, 2008 - The combined assets of the nation's mutual funds increased by $336.52 billion, or 2.9 percent, to $12.068 trillion in April, 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)

	Apr 08	Mar 08	% chg	Dec 07
Stock Funds	6,187.6	5,867.5R	5.5	6,528.0
Hybrid Funds	699.1	675.4R	3.5	714.3
Taxable Bond Funds	1,374.9	1,348.0R	2.0	1,305.5
Municipal Bond Funds	380.0	373.0R	1.9	373.9
Taxable Money Market Funds	2,947.2	2,980.6R	-1.1	2,650.0
Tax-Free Money Market Funds	479.1	487.3R	-1.7	467.6
Total	12,068.0	11,731.5R	2.9	12,039.4

R=Revised data

Highlights: Long-term funds - stock, bond, and hybrid funds - had a net inflow of $31.26 billion in April, vs. an outflow of $449 million in March.

Stock funds posted an inflow of $12.20 billion in April, compared with an outflow of $9.43 billion in March. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $5.99 billion in April, vs. an outflow of $1.15 billion in March. Funds that invest primarily in the US had an inflow of $6.22 billion in April, vs. an outflow of $8.27 billion in March.

Hybrid funds posted an inflow of $2.31 billion in April, compared with an inflow of $193.0 million in March.

Bond funds had an inflow of $16.75 billion in April, compared with an inflow of $8.78 billion in March. Taxable bond funds had an inflow of $13.30 billion in April, vs. an inflow of $6.23 billion in March. Municipal bond funds had an inflow of $3.45 billion in April, compared with an inflow of $2.55 billion in March.

Money market funds had an outflow of $47.83 billion in April, compared with an inflow of $56.66 billion in March. Funds offered primarily to institutions had an outflow of $14.24 billion. Funds offered primarily to individuals had an outflow of $33.59 billion.

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

	Apr 2008	Mar 2008	YTD 2008	YTD 2007
New Sales	131,720	111,040R	518,301	518,494
Redemptions	-119,092	-113,016R	-519,963	-424,794R
Exchanges In	17,477	12,708R	64,826	76,015
Exchanges Out	-17,901	-20,157R	-94,675	-87,148
Net New Cash Flow	12,204	-9,425R	-31,511	82,567R

Hybrid Mutual Funds

New Sales	13,831	13,735R	58,008	53,588R
Redemptions	-11,497	-12,542R	-51,375	-41,709R
Exchanges In	1,704	1,755R	7,456	6,797R
Exchanges Out	-1,729	-2,754R	-9,788	-6,455R
Net New Cash Flow	2,308	193R	4,301	12,221R

Taxable Bond Mutual Funds

New Sales	47,328	43,049R	186,889	135,976
Redemptions	-35,302	-39,913R	-147,423	-92,651
Exchanges In	6,433	7,646R	32,722	24,259
Exchanges Out	-5,154	-4,550	-19,647	-19,083
Net New Cash Flow	13,304	6,231R	52,540	48,501

Municipal Bond Mutual Funds

New Sales	9,432	8,711R	33,390	29,639
Redemptions	-6,749	-6,976R	-25,861	-20,110R
Exchanges In	1,831	2,287	8,259	4,075
Exchanges Out	-1,067	-1,470	-6,064	-3,464
Net New Cash Flow	3,448	2,552R	9,725	10,140R

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

Apr 08	Mar 08	YTD 2008	YTD 2007
-47,832	56,658R	267,328	36,726

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

Apr 08	Mar 08	Apr 07
4.2%	4.3%	3.7%

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

Apr 08	Mar 08	Apr 07
23.8%	24.7%R	19.2%

*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*)

Apr 08	Mar 08	Apr 07
28.21	29.46	23.17

*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

	Apr 08	Mar 08	Apr 07
Stock Funds	4,810	4,816R	4,720R
Hybrid Funds	478	482	476R
Taxable Bond Funds	1,297	1,298R	1,281R
Municipal Bond Funds	657	667	695R
Taxable Money Market Funds	552	553	567
Tax-free Money Market Funds	256	258R	265
Total	8,050	8,074R	8,004R

R=Revised data