Trends In Mutual Fund Investing
February 2008Washington, 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)
Stock Mutual Funds
| |
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
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