Trends In Mutual Fund Investing
September 2002Washington, DC, October 30, 2002 - The combined assets of the nation's mutual funds decreased by $329.2 billion to $6.059 trillion in September, 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 the ICI. Net Assets of Mutual Funds
(billions of dollars)
| |
Sept 02 |
Aug 02 |
% chg |
Dec 01 |
Stock Funds |
2,506.8 |
2,781.8R |
-9.9 |
3,418.2 |
Hybrid Funds |
305.5 |
324.9R |
-6.0 |
346.3 |
Taxable Bond Funds |
757.4 |
739.8R |
+2.4 |
630.1 |
Municipal Bond Funds |
331.9 |
324.1R |
+2.4 |
295.0 |
Taxable Money Market Funds |
1,894.1 |
1,951.3R |
-2.9 |
2,012.9 |
Tax-Free Money Market Funds |
263.2 |
266.2R |
-1.1 |
272.4 |
Total |
6,059.0 |
6,388.2R |
-5.2 |
6,975.0 | R=revised data Highlights: Stock funds had an outflow of $16.08 billion in September. In August, stock funds had an outflow of $3.06 billion. Domestic funds had an outflow of $14.47 billion in September, compared with an outflow of $561 million in August. Stock funds that invest overseas had an outflow of $1.61 billion in September, compared with an outflow of $2.50 billion in August. Bond funds had an inflow of $15.88 billion in September, compared with an inflow of $17.42 billion in August. Money market funds had an outflow of $62.46 billion in September, compared with an outflow of $38.74 billion in August. Of the September outflow, funds that are offered primarily to institutions had an outflow of $51.76 billion. Funds that are offered primarily to individuals had an outflow of $10.70 billion. Net New Cash Flow of Long-term Funds
(millions of dollars)
Stock Mutual Funds
| |
Sept 2002 |
Aug 2002 |
YTD 02 |
YTD 01 |
New Sales |
54,226 |
69,200R |
697,180 |
719,554R |
Redemptions |
-63,514 |
-69,182R |
-676,696 |
-676,496R |
Net Exchanges |
-6,790 |
-3,081R |
-39,200 |
-29,956 |
Net New Cash Flow |
-16,078 |
-3,063R |
-18,715 |
13,101R |
Hybrid Mutual Funds
New Sales |
5,201 |
5,987R |
60,743 |
52,637 |
Redemptions |
-5,297 |
-5,522R |
-52,124 |
-46,495 |
Net Exchanges |
-526 |
106R |
-323 |
-165 |
Net New Cash Flow |
-623 |
571R |
8,296 |
5,978 |
Taxable Bond Mutual Funds
New Sales |
29,149 |
31,841R |
242,181 |
172,398R |
Redemptions |
-18,910 |
-20,685R |
-160,571 |
-124,344R |
Net Exchanges |
3,315 |
2,475R |
20,654 |
11,445 |
Net New Cash Flow |
13,555 |
13,630R |
102,264 |
59,499R |
Municipal Bond Mutual Funds
New Sales |
5,627 |
7,390R |
51,371 |
41,635 |
Redemptions |
-3,640 |
-3,971R |
-36,540 |
-33,025 |
Net Exchanges |
338 |
371 |
2,696 |
1,131R |
Net New Cash Flow |
2,324 |
3,790R |
17,528 |
9,742R | Net New Cash Flow of Money Market Funds
(millions of dollars)
Aug 02 |
Aug 02 |
YTD 02 |
YTD 01 |
-62,460 |
-38,737R |
-157,616 |
266,220R | Liquid Assets of Stock Mutual Funds
(percent of total net assets)
Sept 02 |
Aug 02 |
Sept 01 |
5.1% |
4.9% |
5.6% | Annual Redemptions from Stock Funds
(percent of average net assets*)
Sept 02 |
Aug 02 |
Sept 01 |
32.3% |
29.1%R |
24.8%R | *Redemptions 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
| |
Sept 02 |
Aug 02 |
Sept 01 |
Stock Funds |
4,801 |
4,792R |
4,670R |
Hybrid Funds |
477 |
476 |
493 |
Taxable Bond Funds |
1,269 |
1,273R |
1,300R |
Municipal Bond Funds |
778 |
784R |
822 |
Taxable Money Market Funds |
683 |
682R |
688 |
Tax-free Money Market Funds |
311 |
312 |
327 |
Total |
8,319 |
8,319R |
8,300R | R=revised data
|
