Trends In Mutual Fund Investing
August 2007Washington, DC, September 27, 2007 _ The combined assets of the nation's mutual funds increased by $190.35 billion, or 1.7 percent, to $11.496 trillion in August, 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)
| |
August 07 |
July 07 |
% chg |
Dec 06 |
Stock Funds |
6,415.2 |
6,393.8R |
0.3 |
5,911.6 |
Hybrid Funds |
693.0 |
687.9R |
0.7 |
653.1 |
Taxable Bond Funds |
1,238.2 |
1,231.2R |
0.6 |
1,129.5 |
Municipal Bond Funds |
372.5 |
378.2R |
-1.5 |
364.9 |
Taxable Money Market Funds |
2,356.6 |
2,208.6R |
6.7 |
1,988.1 |
Tax-Free Money Market Funds |
420.7 |
406.2 |
3.6 |
366.4 |
Total |
11,496.2 |
11,305.9R |
1.7 |
10,413.6 | R=Revised data Highlights: Long-term funds - stock, bond, and hybrid funds - had a net outflow of $16.39 billion in August, vs. an inflow of $17.38 billion in July. Stock funds posted an outflow of $12.27 billion in August, compared with an inflow of $11.56 billion in July. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $1.72 billion in August, vs. an inflow of $14.91 billion in July. Funds that invest primarily in the US had an outflow of $13.99 billion in August, vs. an outflow of $3.35 billion in July. Hybrid funds posted an outflow of $96 million billion in August, compared with an inflow of $1.89 billion in July. Bond funds had an outflow of $4.03 billion in August, compared with an inflow of $3.94 billion in July. Taxable bond funds had an outflow of $2.84 billion in August, vs. an inflow of $3.75 billion in July. Municipal bond funds had an outflow of $1.19 billion in August, compared with an inflow of $186 million in July. Money market funds had an inflow of $153.79 billion in August, compared with an inflow of $71.13 billion in July. Funds offered primarily to institutions had an inflow of $123.99 billion. Funds offered primarily to individuals had an inflow of $29.80 billion.
Net New Cash Flow of Long-term Funds
(millions of dollars)
Stock Mutual Funds
| |
August 2007 |
July 2007 |
YTD 2007 |
YTD 2006 |
New Sales |
123,241 |
133,735R |
1,021,794 |
836,130R |
Redemptions |
-128,476 |
-119,687R |
-904,487 |
-706,315R |
Exchanges In |
17,575 |
21,623R |
154,448 |
143,846R |
Exchanges Out |
-24,611 |
-24,113R |
-183,673 |
-156,435R |
Net New Cash Flow |
-12,271 |
11,557R |
88,081 |
117,225R |
Hybrid Mutual Funds
New Sales |
12,538 |
14,053R |
106,227 |
67,547 |
Redemptions |
-12,122 |
-12,246 |
-89,000 |
-63,358 |
Exchanges In |
1,654 |
1,956R |
13,564 |
10,275 |
Exchanges Out |
-2,166 |
-1,871R |
-13,413 |
-13,367 |
Net New Cash Flow |
-96 |
1,892R |
17,378 |
1,096 |
Taxable Bond Mutual Funds
New Sales |
31,046 |
34,142R |
279,819 |
208,301R |
Redemptions |
-34,775 |
-29,856R |
-214,552 |
-183,019R |
Exchanges In |
5,699 |
5,890R |
46,400 |
29,853 |
Exchanges Out |
-4,806 |
-6,428R |
-37,586 |
-32,972 |
Net New Cash Flow |
-2,836 |
3,749R |
74,080 |
22,164R |
Municipal Bond Mutual Funds
New Sales |
6,619 |
6,047R |
58,869 |
48,050 |
Redemptions |
-7,603 |
-5,745R |
-45,930 |
-39,833 |
Exchanges In |
1,556 |
941R |
9,291 |
6,948 |
Exchanges Out |
-1,761 |
-1,057 |
-9,007 |
-6,876 |
Net New Cash Flow |
-1,190 |
186R |
13,224 |
8,289 |
Net New Cash Flow of Money Market Funds
(millions of dollars)
August 07 |
July 07 |
YTD 2007 |
YTD 2006 |
153,793 |
71,131R |
354,037 |
104,727 |
Liquid Assets of Stock Mutual Funds
(percent of total net assets)
August 07 |
July 07 |
August 06 |
3.6% |
3.5% |
4.4% |
Annual Redemptions from Stock Funds
(percent of average net assets*)
August 07 |
July 07 |
August 06 |
21.3% |
20.8% |
20.3%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*)
August 07 |
July 07 |
August 06 |
25.5% |
24.9% |
24.7% | *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
| |
August 07 |
July 07 |
August 06 |
Stock Funds |
4,731 |
4,721 |
4,665R |
Hybrid Funds |
485 |
479R |
508 |
Taxable Bond Funds |
1,301 |
1,296R |
1,282R |
Municipal Bond Funds |
685 |
690 |
727 |
Taxable Money Market Funds |
567 |
564R |
579 |
Tax-free Money Market Funds |
264 |
263 |
273 |
Total |
8,033 |
8,013R |
8,034R | R=Revised data
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