Trends In Mutual Fund Investing
January 2008Washington, DC, February 28, 2008 - The combined assets of the nation's mutual funds decreased by $302.99 billion, or 2.5 percent, to $11.717 trillion in January, 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)
| |
Jan 08 |
Dec 07 |
% chg |
Dec 06 |
Stock Funds |
6,023.3 |
6,522.1R |
-7.6 |
5,910.5 |
Hybrid Funds |
690.2 |
712.8R |
-3.2 |
653.1 |
Taxable Bond Funds |
1,340.3 |
1,305.5R |
2.7 |
1,129.5 |
Municipal Bond Funds |
379.5 |
373.8R |
1.5 |
364.9 |
Taxable Money Market Funds |
2,805.2 |
2,640.8R |
6.2 |
1,988.0 |
Tax-Free Money Market Funds |
478.5 |
465.1R |
2.9 |
366.4 |
Total |
11,717.1 |
12,020.1R |
-2.5 |
10,412.5 | R=Revised data Highlights: Long-term funds - stock, bond, and hybrid funds - had a net outflow of $22.01 billion in January, vs. an inflow of $3.57 billion in December. Stock funds posted an outflow of $44.84 billion in January, compared with an inflow of $2.17 billion in December. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an outflow of $9.09 billion in January, vs. an inflow of $9.41 billion in December. Funds that invest primarily in the US had an outflow of $35.75 billion in January, vs. an outflow of $7.24 billion in December. Hybrid funds posted an outflow of $1.47 billion in January, compared with an inflow of $928 million in December. Bond funds had an inflow of $24.30 billion in January, compared with an inflow of $475 million in December. Taxable bond funds had an inflow of $21.80 billion in January, vs. an inflow of $3.91 billion in December. Municipal bond funds had an inflow of $2.51 billion in January, compared with an outflow of $3.43 billion in December. Money market funds had an inflow of $162.28 billion in January, compared with an inflow of $36.27 billion in December. Funds offered primarily to institutions had an inflow of $104.20 billion. Funds offered primarily to individuals had an inflow of $58.08 billion.
Net New Cash Flow of Long-Term Funds
(millions of dollars)
Stock Mutual Funds
| |
Jan 2008 |
Dec 2007 |
YTD 2008 |
YTD 2007 |
New Sales |
158,879 |
139,334R |
158,879 |
144,160 |
Redemptions |
-185,555 |
-134,393R |
-185,555 |
-114,512 |
Exchanges In |
21,654 |
18,105R |
21,654 |
20,862 |
Exchanges Out |
-39,815 |
-20,880R |
-39,815 |
-21,188 |
Net New Cash Flow |
-44,837 |
2,167R |
-44,837 |
29,322 |
Hybrid Mutual Funds
New Sales |
19,122 |
14,555R |
19,122 |
14,847 |
Redemptions |
-19,308 |
-13,377R |
-19,308 |
-11,454 |
Exchanges In |
2,446 |
1,477 |
2,446 |
1,902 |
Exchanges Out |
-3,732 |
-1,727 |
-3,732 |
-1,729 |
Net New Cash Flow |
-1,472 |
928R |
-1,472 |
3,567 |
Taxable Bond Mutual Funds
New Sales |
56,212 |
36,730R |
56,212 |
35,002 |
Redemptions |
-41,596 |
-33,793R |
-41,596 |
-23,614 |
Exchanges In |
12,629 |
5,081R |
12,629 |
4,948 |
Exchanges Out |
-5,450 |
-4,110 |
-5,450 |
-4,068 |
Net New Cash Flow |
21,795 |
3,909R |
21,795 |
12,269 |
Municipal Bond Mutual Funds
New Sales |
8,077 |
6,639R |
8,077 |
7,774 |
Redemptions |
-6,301 |
-9,471R |
-6,301 |
-5,065 |
Exchanges In |
2,376 |
3,147 |
2,376 |
1,136 |
Exchanges Out |
-1,643 |
-3,749 |
-1,643 |
-1,025 |
Net New Cash Flow |
2,509 |
-3,434R |
2,509 |
2,820 |
Net New Cash Flow of Money Market Funds
(millions of dollars)
Jan 08 |
Dec 07 |
YTD 2008 |
YTD 2007 |
162,283 |
36,273R |
162,283 |
-10,818 |
Liquid Assets of Stock Mutual Funds
(percent of total net assets)
Jan 08 |
Dec 07 |
Jan 07 |
4.1% |
4.2% |
4.0% |
Annual Redemptions from Stock Funds
(percent of average net assets*)
Jan 08 |
Dec 07 |
Jan 07 |
24.4% |
22.5% |
19.1% |
*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*)
Jan 08 |
Dec 07 |
Jan 07 |
29.14% |
26.83% |
23.08% | *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
| |
Jan 08 |
Dec 07 |
Jan 07 |
Stock Funds |
4,781 |
4,766R |
4,781 |
Hybrid Funds |
491 |
488R |
499 |
Taxable Bond Funds |
1,297 |
1,295R |
1,286 |
Municipal Bond Funds |
675 |
675R |
709 |
Taxable Money Market Funds |
553 |
548R |
571 |
Tax-free Money Market Funds |
259 |
259 |
273 |
Total |
8,056 |
8,031R |
8,119 | R=Revised data
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