Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Investing December 20, 2004
Money Market, World Equity Funds Strong Draw in November
December 20, 2004 (PLANSPONSOR.com) - Net inflows to
US equity funds last month were the largest since February,
and total industry flows were the strongest in two years,
according to a report from Lipper Inc.
Reported by Nevin E. Adams
Overall, the total net inflows to mutual funds – some $54 billion – was the largest inflow since November 2002, and the second-largest since November 2001. In October, net flows into stock funds over the month totaled $15.3 billion, a $5 billion hike from the previous month (see Equity Funds Spring Ahead in October ).
The mutual fund tracker reported that an estimated $24.4 billion flowed into stock funds in November, of which $20.1 billion went into pure equity funds. Of that, $8.1 billion went to US diversified funds, but World Equity funds drew $10.8 billion.
Among US diversified equity funds, multi-cap funds pulled $7.0 billion, mid cap attracted $3.4 billion, and $2.8 billion went to small caps. However, $5.1 billion left large-cap funds. Across all market-cap funds, value offerings drew $5.6 billion, and core funds pulled in $3.0 billion. Growth funds lost $0.5 billion during the month.
Among fixed-income offerings, money market funds pulled in $27.6 billion (the largest positive margin in 24 months, according to Lipper), while long-term bonds gained $3.2 billion, and short- and intermediate-term offerings lost $0.8 billion.