Trends In Mutual Fund Investing
June 2007Washington, DC, July 30, 2007 - The combined assets of the nation's mutual funds little changed in June, decreasing by $1.60 billion to $11.390 trillion, 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)
| |
June 07 |
May 07 |
% chg |
Dec 06 |
Stock Funds |
6,553.2 |
6,593.1R |
-0.6 |
5,911.6 |
Hybrid Funds |
699.5 |
704.4R |
-0.7 |
653.1 |
Taxable Bond Funds |
1,222.1 |
1,220.5R |
0.1 |
1,129.5 |
Municipal Bond Funds |
377.5 |
378.6R |
-0.3 |
364.9 |
Taxable Money Market Funds |
2,144.9 |
2,106.9R |
1.8 |
1,988.1 |
Tax-Free Money Market Funds |
392.8 |
388.1R |
1.2 |
366.4 |
Total |
11,390.0 |
11,391.6R |
-0.01 |
10,413.6 | R=Revised data Highlights: Long-term funds - stock, bond, and hybrid funds - had a net inflow of $14.17 billion in June, vs. an inflow of $24.61 billion in May. Stock funds posted an inflow of $5.49 billion in June, compared with an inflow of $1.30 billion in May. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $8.52 billion in June, vs. an inflow of $11.40 billion in May. Funds that invest primarily in the US had an outflow of $3.03 billion in June, vs. an outflow of $10.10 billion in May. Hybrid funds posted an inflow of $1.16 billion in June, compared with an inflow of $2.00 billion in May. Bond funds had an inflow of $7.52 billion in June, compared with an inflow of $21.31 billion in May. Taxable bond funds had an inflow of $7.02 billion in June, vs. an inflow of $17.74 billion in May. Municipal bond funds had an inflow of $508 million in June, compared with an inflow of $3.57 billion in May. Money market funds had an inflow of $34.62 billion in June, compared with an inflow of $57.62 billion in May. Funds offered primarily to institutions had an inflow of $27.51 billion. Funds offered primarily to individuals had an inflow of $7.11 billion.
Net New Cash Flow of Long-Term Funds
(millions of dollars)
Stock Mutual Funds
| |
June 2007 |
May 2007 |
YTD 2007 |
YTD 2006 |
New Sales |
121,333 |
125,385R |
765,295 |
666,121R |
Redemptions |
-112,484 |
-118,891R |
-656,226 |
-545,664R |
Exchanges In |
18,145 |
21,106R |
115,274 |
115,895R |
Exchanges Out |
-21,508 |
-26,304R |
-134,962 |
-123,706R |
Net New Cash Flow |
5,485 |
1,296R |
89,373 |
112,646R |
Hybrid Mutual Funds
New Sales |
13,140 |
13,352R |
79,544 |
52,278 |
Redemptions |
-12,006 |
-11,576R |
-64,638 |
-48,435R |
Exchanges In |
1,500 |
1,714 |
9,954 |
7,940R |
Exchanges Out |
-1,475 |
-1,492 |
-9,375 |
-10,824 |
Net New Cash Flow |
1,159 |
1,999R |
15,484 |
959R |
Taxable Bond Mutual Funds
New Sales |
39,749 |
38,900R |
214,618 |
159,603R |
Redemptions |
-33,675 |
-23,523R |
-149,931 |
-141,762R |
Exchanges In |
5,408 |
5,142R |
34,811 |
22,635 |
Exchanges Out |
-4,466 |
-2,778R |
-26,357 |
-26,265 |
Net New Cash Flow |
7,017 |
17,740R |
73,140 |
14,211R |
Municipal Bond Mutual Funds
New Sales |
7,502 |
9,042 |
46,197 |
37,191 |
Redemptions |
-6,831 |
-5,627R |
-32,599 |
-30,605 |
Exchanges In |
1,689 |
1,026 |
6,795 |
5,262 |
Exchanges Out |
-1,852 |
-870 |
-6,190 |
-5,342 |
Net New Cash Flow |
508 |
3,572R |
14,203 |
6,507 |
Net New Cash Flow of Money Market Funds
(millions of dollars)
June 07 |
May 07 |
YTD 2007 |
YTD 2006 |
34,618 |
57,624R |
128,965 |
36,017 |
Liquid Assets of Stock Mutual Funds
(percent of total net assets)
June 07 |
May 07 |
June 06 |
3.5% |
3.6% |
4.2% |
Annual Redemptions from Stock Funds
(percent of average net assets*)
June 07 |
May 07 |
June 06 |
19.7% |
19.3% |
20.5%R | *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*)
June 07 |
May 07 |
June 06 |
23.7% |
23.3% |
25.1% | *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
| |
June 07 |
May 07 |
June 06 |
Stock Funds |
4,735 |
4,726R |
4,624R |
Hybrid Funds |
474 |
473 |
505 |
Taxable Bond Funds |
1,298 |
1,290 |
1,269R |
Municipal Bond Funds |
689 |
693R |
732 |
Taxable Money Market Funds |
564 |
568R |
582 |
Tax-free Money Market Funds |
263 |
263 |
274 |
Total |
8,023 |
8,013R |
7,986R | R=Revised data
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