Trends In Mutual Fund Investing
September 2007Washington, DC, October 30, 2007 - The combined assets of the nation's mutual funds increased by $406.20 billion, or 3.5 percent, to $11.906 trillion in September, 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)
| |
Sept 07 |
Aug 07 |
% chg |
Dec 06 |
Stock Funds |
6,717.8 |
6,419.0R |
4.7 |
5,911.6 |
Hybrid Funds |
702.8 |
693.0R |
1.4 |
653.1 |
Taxable Bond Funds |
1,260.7 |
1,238.3R |
1.8 |
1,129.5 |
Municipal Bond Funds |
378.2 |
372.5R |
1.5 |
364.9 |
Taxable Money Market Funds |
2,424.0 |
2,356.4R |
2.9 |
1,988.1 |
Tax-Free Money Market Funds |
422.6 |
420.7R |
0.5 |
366.4 |
Total |
11,906.1 |
11,499.9R |
3.5 |
10,413.6 | R=Revised data Highlights: Long-term funds - stock, bond, and hybrid funds - had a net inflow of $16.02 billion in September, vs. an outflow of $19.46 billion in August. Stock funds posted an inflow of $7.50 billion in September, compared with an outflow of $15.53 billion in August. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $11.60 billion in September, vs. an inflow of $1.88 billion in August. Funds that invest primarily in the US had an outflow of $4.11 billion in September, vs. an outflow of $17.41 billion in August. Hybrid funds posted an inflow of $1.10 billion in September, compared with an inflow of $60 million in August. Bond funds had an inflow of $7.43 billion in September, compared with an outflow of $3.99 billion in August. Taxable bond funds had an inflow of $5.92 billion in September, vs. an outflow of $2.81 billion in August. Municipal bond funds had an inflow of $1.51 billion in September, compared with an outflow of $1.18 billion in August. Money market funds had an inflow of $58.25 billion in September, compared with an inflow of $153.86 billion in August. Funds offered primarily to institutions had an inflow of $59.35 billion. Funds offered primarily to individuals had an outflow of $1.10 billion.
Net New Cash Flow of Long-Term Funds
(millions of dollars)
Stock Mutual Funds
| |
Sept 2007 |
Aug 2007 |
YTD 2007 |
YTD 2006 |
New Sales |
112,057 |
121,249R |
1,131,652 |
920,712R |
Redemptions |
-102,654 |
-129,741R |
-1,008,485 |
-780,832R |
Exchanges In |
16,466 |
17,574R |
170,915 |
157,176R |
Exchanges Out |
-18,373 |
-24,607R |
-202,041 |
-171,924R |
Net New Cash Flow |
7,496 |
-15,525R |
92,040 |
125,131R |
Hybrid Mutual Funds
New Sales |
10,875 |
12,689R |
117,250 |
76,015 |
Redemptions |
-9,633 |
12,116R |
-98,601 |
-70,974 |
Exchanges In |
1,233 |
1,654 |
14,797 |
11,482 |
Exchanges Out |
-1,375 |
-2,168R |
-14,789 |
-14,805 |
Net New Cash Flow |
1,100 |
60R |
18,657 |
1,719 |
Taxable Bond Mutual Funds
New Sales |
30,759 |
31,121R |
310,602 |
233,855R |
Redemptions |
-25,911 |
-34,825R |
-240,514 |
-205,104R |
Exchanges In |
4,578 |
5,699 |
50,978 |
33,137 |
Exchanges Out |
-3,508 |
-4,806 |
-41,094 |
-36,790R |
Net New Cash Flow |
5,918 |
-2,811R |
79,971 |
25,097R |
Municipal Bond Mutual Funds
New Sales |
6,228 |
6,607R |
65,063 |
53,727 |
Redemptions |
-5,031 |
-7,584R |
-50,942 |
-44,254 |
Exchanges In |
1,261 |
1,556 |
10,522 |
7,735 |
Exchanges Out |
-950 |
-1,761 |
-9,956 |
-7,552 |
Net New Cash Flow |
1,508 |
-1,182R |
14,717 |
9,655 |
Net New Cash Flow of Money Market Funds
(millions of dollars)
Sept 07 |
Aug 07 |
YTD 2007 |
YTD 2006 |
58,251 |
153,862R |
412,337 |
120,147 |
Liquid Assets of Stock Mutual Funds
(percent of total net assets)
Sept 07 |
Aug 07 |
Sept 06 |
3.6% |
3.6% |
4.3% |
Annual Redemptions from Stock Funds
(percent of average net assets*)
Sept 07 |
Aug 07 |
Sept 06 |
21.0% |
21.3% |
20.0%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*)
Sept 07 |
Aug 07 |
Sept 06 |
25.2% |
25.6% |
24.3% | *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
| |
Sept 07 |
Aug 07 |
Sept 06 |
Stock Funds |
4,733 |
4,737 |
4,697R |
Hybrid Funds |
479 |
485 |
501 |
Taxable Bond Funds |
1,301 |
1,300R |
1,284R |
Municipal Bond Funds |
686 |
685 |
723 |
Taxable Money Market Funds |
564 |
564R |
577 |
Tax-free Money Market Funds |
266 |
264 |
271 |
Total |
8,029 |
8,035R |
8,053R | R=Revised data
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