Trends In Mutual Fund Investing
December 2007Washington, DC, January 30, 2008 - The combined assets of the nation's mutual funds decreased by $30.49 billion, or 0.3 percent, to $12.039 trillion in December, 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)
| |
Dec 07 |
Nov 07 |
% chg |
Dec 06 |
Stock Funds |
6,528.0 |
6,599.5R |
-1.1 |
5,910.5R |
Hybrid Funds |
714.3 |
718.2R |
-0.5 |
653.1 |
Taxable Bond Funds |
1,305.5 |
1,299.5R |
0.5 |
1,129.5 |
Municipal Bond Funds |
373.9 |
378.2R |
-1.2 |
364.9R |
Taxable Money Market Funds |
2,650.0 |
2,625.6R |
0.9 |
1,988.0R |
Tax-Free Money Market Funds |
467.6 |
448.9R |
4.2 |
366.4R |
Total |
12,039.4 |
12,069.8R |
-0.3 |
10,412.5R | R=Revised data Highlights: Long-term funds - stock, bond, and hybrid funds - had a net inflow of $2.69 billion in December, vs. an outflow of $7.11 billion in November. Stock funds posted an inflow of $1.29 billion in December, compared with an outflow of $9.94 billion in November. Among stock funds, world equity funds (US funds that invest primarily overseas) posted an inflow of $9.26 billion in December, vs. an inflow of $4.64 billion in November. Funds that invest primarily in the US had an outflow of $7.96 billion in December, vs. an outflow of $14.58 billion in November. Hybrid funds posted an inflow of $810 million in December, compared with an inflow of $874 million in November. Bond funds had an inflow of $584 million in December, compared with an inflow of $1.96 billion in November. Taxable bond funds had an inflow of $4.06 billion in December, vs. an inflow of $3.08 billion in November. Municipal bond funds had an outflow of $3.48 billion in December, compared with an outflow of $1.12 billion in November. Money market funds had an inflow of $35.52 billion in December, compared with an inflow of $101.37 billion in November. Funds offered primarily to institutions had an inflow of $16.69 billion. Funds offered primarily to individuals had an inflow of $18.83 billion.
Net New Cash Flow of Long-term Funds
(millions of dollars)
Stock Mutual Funds
| |
Dec 2007 |
Nov 2007 |
YTD 2007 |
YTD 2006 |
New Sales |
139,384 |
117,928R |
1,533,915 |
1,231,622R |
Redemptions |
-135,322 |
-121,881R |
-1,399,679 |
-1,054,207R |
Exchanges In |
18,101 |
17,243R |
227,486 |
205,676 |
Exchanges Out |
-20,871 |
-23,229R |
-269,278 |
-223,650 |
Net New Cash Flow |
1,292 |
-9,939R |
92,444 |
159,441R |
Hybrid Mutual Funds
New Sales |
14,809 |
13,350R |
160,178 |
107,232 |
Redemptions |
-13,749 |
-12,062R |
-137,256 |
-97,437 |
Exchanges In |
1,477 |
1,897R |
19,944 |
16,205 |
Exchanges Out |
-1,727 |
-2,311R |
-20,733 |
-18,930 |
Net New Cash Flow |
810 |
874R |
22,133 |
7,069 |
Taxable Bond Mutual Funds
New Sales |
36,959 |
34,539R |
419,324 |
321,678 |
Redemptions |
-33,869 |
-33,080R |
-335,799 |
-273,408 |
Exchanges In |
5,079 |
6,496 |
67,938 |
44,296 |
Exchanges Out |
-4,110 |
-4,880 |
-53,751 |
-47,104 |
Net New Cash Flow |
4,059 |
3,075R |
97,711 |
45,463 |
Municipal Bond Mutual Funds
New Sales |
6,640 |
5,443R |
83,896 |
72,485 |
Redemptions |
-9,513 |
-6,302R |
-72,678 |
-57,780 |
Exchanges In |
3,147 |
1,541 |
16,374 |
10,277 |
Exchanges Out |
-3,749 |
-1,800 |
-16,777 |
-9,865 |
Net New Cash Flow |
-3,475 |
-1,119R |
10,814 |
15,119 |
Net New Cash Flow of Money Market Funds
(millions of dollars)
Dec 07 |
Nov 07 |
YTD 2007 |
YTD 2006 |
35,516 |
101,369R |
660,680 |
246,922R |
Liquid Assets of Stock Mutual Funds
(percent of total net assets)
Dec 07 |
Nov 07 |
Dec 06 |
4.2% |
4.2% |
3.9% |
Annual Redemptions from Stock Funds
(percent of average net assets*)
Dec 07 |
Nov 07 |
Dec 06 |
22.5% |
21.9% |
19.4% | *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*)
Dec 07 |
Nov 07 |
Dec 06 |
26.84% |
26.20% |
23.55% | *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
| |
Dec 07 |
Nov 07 |
Dec 06 |
Stock Funds |
4,748 |
4,744 |
4,769R |
Hybrid Funds |
489 |
490R |
508 |
Taxable Bond Funds |
1,294 |
1,293R |
1,282 |
Municipal Bond Funds |
676 |
682 |
711 |
Taxable Money Market Funds |
551 |
551 |
575R |
Tax-free Money Market Funds |
259 |
260 |
273 |
Total |
8,017 |
8,020R |
8,118 | R=Revised data
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