Trends In Mutual Fund Investing
November 2007Washington, DC, December 27, 2007 - The combined assets of the nation's mutual funds decreased by $226.97 billion, or 1.8 percent, to $12.076 trillion in November, 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)
| |
Nov 07 |
Oct 07 |
% chg |
Dec 06 |
Stock Funds |
6,604.3 |
6,942.7R |
-4.9 |
5,911.6 |
Hybrid Funds |
718.9 |
728.1R |
-1.3 |
653.1 |
Taxable Bond Funds |
1,300.2 |
1,286.9R |
1.0 |
1,129.5 |
Municipal Bond Funds |
378.3 |
379.8R |
-0.4 |
364.9 |
Taxable Money Market Funds |
2,625.6 |
2,531.1R |
3.7 |
1,988.1 |
Tax-Free Money Market Funds |
448.9 |
434.5R |
3.3 |
366.4 |
Total |
12,076.2 |
12,303.2R |
-1.8 |
10,413.6 | R=Revised data Highlights: Long-term funds - stock, bond, and hybrid funds - had a net outflow of $7.87 billion in November, vs. an inflow of $24.55 billion in October. Stock funds posted an outflow of $10.89 billion in November, compared with an inflow of $11.31 billion in October. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $4.46 billion in November, vs. an inflow of $15.04 billion in October. Funds that invest primarily in the US had an outflow of $15.34 billion in November, vs. an outflow of $3.73 billion in October. Hybrid funds posted an inflow of $587 million in November, compared with an inflow of $1.84 billion in October. Bond funds had an inflow of $2.43 billion in November, compared with an inflow of $11.40 billion in October. Taxable bond funds had an inflow of $3.40 billion in November, vs. an inflow of $10.69 billion in October. Municipal bond funds had an outflow of $969 million in November, compared with an inflow of $713 million in October. Money market funds had an inflow of $101.35 billion in November, compared with an inflow of $105.81 billion in October. Funds offered primarily to institutions had an inflow of $60.44 billion. Funds offered primarily to individuals had an inflow of $40.91 billion.
Net New Cash Flow of Long-term Funds
(millions of dollars)
Stock Mutual Funds
| |
Nov 2007 |
Oct 2007 |
YTD 2007 |
YTD 2006 |
New Sales |
117,900 |
145,619R |
1,394,955 |
1,121,998R |
Redemptions |
-122,744 |
-132,400R |
-1,263,589 |
-956,025R |
Exchanges In |
17,247 |
21,229R |
209,390 |
189,091R |
Exchanges Out |
-23,288 |
-23,139R |
-248,467 |
-205,758R |
Net New Cash Flow |
-10,886 |
11,309R |
92,289 |
149,307R |
Hybrid Mutual Funds
New Sales |
13,389 |
14,731R |
145,409 |
95,927 |
Redemptions |
-12,387 |
-12,785R |
-123,791 |
-87,759 |
Exchanges In |
1,899 |
1,761R |
18,469 |
14,720 |
Exchanges Out |
-2,313 |
-1,873R |
-19,009 |
-17,577 |
Net New Cash Flow |
587 |
1,835R |
21,077 |
5,311 |
Taxable Bond Mutual Funds
New Sales |
34,900 |
38,366R |
382,757 |
290,269R |
Redemptions |
-33,118 |
-29,461R |
-301,973 |
-249,310R |
Exchanges In |
6,496 |
5,428R |
62,859 |
40,563R |
Exchanges Out |
-4,880 |
-3,644R |
-49,642 |
-43,490 |
Net New Cash Flow |
3,398 |
10,689R |
94,001 |
38,033R |
Municipal Bond Mutual Funds
New Sales |
5,601 |
6,807R |
77,426 |
66,535 |
Redemptions |
-6311 |
-5,955R |
-63,173 |
-52,957 |
Exchanges In |
1,541 |
1,142R |
13,227 |
9,434 |
Exchanges Out |
-1,800 |
-1,282R |
-13,028 |
-9,029 |
Net New Cash Flow |
-969 |
713R |
14,451 |
13,982 |
Net New Cash Flow of Money Market Funds
(millions of dollars)
Nov 07 |
Oct 07 |
YTD 2007 |
YTD 2006 |
101,348 |
105,805R |
625,143 |
205,747R |
Liquid Assets of Stock Mutual Funds
(percent of total net assets)
Nov 07 |
Oct 07 |
Nov 06 |
4.2% |
3.9% |
4.0% |
Annual Redemptions from Stock Funds
(percent of average net assets*)
Nov 07 |
Oct 07 |
Nov 06 |
21.9% |
21.0%R |
19.5%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*)
Nov 07 |
Oct 07 |
Nov 06 |
26.17% |
25.08% |
23.69% | *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
| |
Nov 07 |
Oct 07 |
Nov 06 |
Stock Funds |
4,744 |
4,739R |
4,767 |
Hybrid Funds |
492 |
487R |
512 |
Taxable Bond Funds |
1,295 |
1,296R |
1,279R |
Municipal Bond Funds |
682 |
683R |
719R |
Taxable Money Market Funds |
551 |
556R |
572R |
Tax-free Money Market Funds |
260 |
262 |
272 |
Total |
8,024 |
8,023R |
8,121R | R=Revised data
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