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Investing April 27, 2006
Fund Asset Growth Perks Up in March
April 27, 2006 (PLANSPONSOR.com) - The rate of
growth in the nation's mutual fund assets picked up slightly
in March with a 1.5% increase in assets, bringing the total
to $9.35 trillion, according to new data from the Investment
Company Institute (ICI).
Reported by Fred Schneyer
March’s asset growth follows a virtually flat showing in February when assets only tacked on 0.3% over the month to $9.22 trillion (See Funds Close out February with Tiny Asset Gain Increase). According to the new data, stock funds added 2.7% in March, growing to $5.33 trillion, while hybrid funds were up 1%, bringing their total to $588 million. The biggest losers in terms of assets in March were Tax Free Money Market funds, which gave up 1.5%, down to $344 million, ICI said.
Long-term funds – stock, bond and hybrid funds – reflected a net inflow of $39.8 billion – up from February’s net inflow of $36.8 billion, ICI said.
Stock funds boasted a $34 billion asset addition in March compared to February’s $27.3 billion showing. Among stock funds, world equity offerings had a $18.48 billion March inflow, down from February’s $19 billion inflow. Funds investing mostly in the US had a $15.5 billion in flow versus $8.29 billion the month before.
Hybrid funds posted a $634 million inflow in March, down from February’s $760 million asset showing.
The full March report is here .