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Investing August 30, 2006
July Fund Assets Tick Upward
August 30, 2006 (PLANSPONSOR.com) - The combined
assets of the nation's mutual funds edged up by $40.3
billion, or 0.4%, to $9.377 trillion in July, according to
the Investment Company Institute's (ICI) latest
data.
Reported by Fred Schneyer
class=”normal-1″> According to an ICI news release , long-term funds – stock, bond, and hybrid funds – had a net inflow of $3.7 billion in July after a $9.45 billion June outflow.
class=”normal-1″> Stock funds enjoyed a $585 million inflow in July, compared with an outflow of $8.6 billion in June. Among stock offerings, world equity funds saw an inflow of $4.84 billion for the month, much greater than the $818 million June influx. Funds that invest primarily in the US had an outflow of $4.26 billion in July after reporting an outflow of $9.42 billion in June.
class=”normal-1″> Hybrid funds posted an $87 million outflow in July, compared with a June outflow of $489 million, ICI said.
class=”normal-1″> Moving on to bond funds, ICI data shows an inflow of $3.2 billion in July, compared to an outflow of $362 million in June. Taxable bond funds had an inflow of $2.86 billion for the month versus an outflow of $645 million in June.
class=”normal-1″> Money market funds had an inflow of $26.84 billion in July, compared with an inflow of $19.79 billion in June.