Trends In Mutual Fund Investing
November 2005Washington, DC, December 29, 2005 - The combined assets of the nation's mutual funds increased by $268.2 billion, or 3.2 percent, to $8.766 trillion in November, 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. Total Net Assets of Mutual Funds
(billions of dollars)
| |
Nov 05 |
Oct 05 |
% chg |
Dec 04 |
Stock Funds |
4,862.1 |
4,664.7R |
4.2 |
4,384.1 |
Hybrid Funds |
563.2 |
552.1R |
2.0 |
519.3 |
Taxable Bond Funds |
1,011.5 |
1,006.8R |
0.5 |
962.6 |
Municipal Bond Funds |
337.7 |
337.6R |
0.0 |
327.7 |
Taxable Money Market Funds |
1,660.0 |
1,611.3R |
3.0 |
1,602.8 |
Tax-Free Money Market Funds |
331.4 |
325.2 |
1.9 |
310.3 |
Total |
8,765.9 |
8,497.7R |
3.2 |
8,106.9 | R=revised data Highlights: Long-term funds - stock, bond, and hybrid funds - collectively had a net inflow of $20.70 billion in November, compared with net inflow of $7.59 billion in October. Stock funds posted an inflow of $20.71 billion in November, compared with an inflow of $6.45 billion in October. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $11.76 billion in November, vs. an inflow of $9.38 billion in October. Funds that invest primarily in the US had an inflow of $8.95 billion in November, compared with an outflow of $2.93 billion in October. Hybrid funds posted a $516 million net inflow in November, compared with an inflow of $926 million in October. Bond funds had an outflow of $522 million in November, compared with an inflow of $213 million in October. Taxable bond funds had an inflow of $200 million in November, compared with an outflow of $36 million in October. Municipal bond funds had an outflow of $722 million in November, compared with an inflow of $249 million in October. Money market funds had an inflow of $30.26 billion in November, compared with an inflow of $21.16 billion in October. Funds offered primarily to institutions had an inflow of $33.00 billion. Funds offered primarily to individuals had an outflow of $2.74 billion. Net New Cash Flow of Long-Term Funds
(millions of dollars)
Stock Mutual Funds
| |
Nov 2005 |
Oct 2005 |
YTD 2005 |
YTD 2004 |
New Sales |
92,049 |
93,854R |
954,040 |
856,976R |
Redemptions |
-72,443 |
-85,736R |
-815,276 |
-694,696R |
Exchanges In |
16,858 |
14,529 |
161,629 |
155,569 |
Exchanges Out |
-15,757 |
-16,194 |
-174,909 |
-150,261R |
Net New Cash Flow |
20,707 |
6,452R |
125,485 |
167,587R |
Hybrid Mutual Funds
New Sales |
7,364 |
7,567 |
99,872 |
104,933R |
Redemptions |
-6,636 |
-6,561R |
-74,546 |
-67,816R |
Exchanges In |
1,107 |
1,124 |
13,805 |
14,855 |
Exchanges Out |
-1,319 |
-1,204 |
-12,937 |
-11,237 |
Net New Cash Flow |
516 |
926R |
26,194 |
40,735R |
Taxable Bond Mutual Funds
New Sales |
24,616 |
27,337R |
281,610 |
267,540R |
Redemptions |
-23,812 |
-26,520R |
-252,594 |
-257,445R |
Exchanges In |
3,286 |
3,195 |
38,845 |
42,552R |
Exchanges Out |
-3,891 |
-4,048 |
-40,869 |
-51,445R |
Net New Cash Flow |
200 |
-36R |
26,992 |
1,203R |
Municipal Bond Mutual Funds
New Sales |
4,432 |
4,828R |
54,931 |
45,983R |
Redemptions |
-4,987 |
-4,436R |
-48,383 |
-54,859R |
Exchanges In |
755 |
708 |
8,181 |
8,025 |
Exchanges Out |
-922 |
-851 |
-8,473 |
-11,893R |
Net New Cash Flow |
-722 |
249R |
6,257 |
-12,744 | Net New Cash Flow of Money Market Funds
(millions of dollars)
Nov 05 |
Oct 05 |
YTD 05 |
YTD 04 |
30,263 |
21,157R |
16,153 |
-148,453R | Liquid Assets of Stock Mutual Funds
(percent of total net assets)
Nov 05 |
Oct 05 |
Nov 04 |
4.1% |
4.0% |
4.6% | Annual Redemptions from Stock Funds
(percent of average net assets*)
Nov 05 |
Oct 05 |
Nov 04 |
19.8% |
20.6% |
19.8% | *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*)
Nov 05 |
Oct 05 |
Nov 04 |
24.1% |
25.0% |
24.1% | *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
| |
Nov 05 |
Oct 05 |
Nov 04 |
Stock Funds |
4,572 |
4,558R |
4,568R |
Hybrid Funds |
508 |
506R |
514 |
Taxable Bond Funds |
1,281 |
1,278R |
1,277R |
Municipal Bond Funds |
742 |
743 |
770 |
Taxable Money Market Funds |
598 |
603 |
652 |
Tax-free Money Market Funds |
273 |
279 |
307 |
Total |
7,974 |
7,967R |
8,088R | R=revised data
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