Investing November 26, 2002

More Equity Fund Outflows in October

November 26, 2002 (PLANSPONSOR.com) - Domestic equity mutual funds shed $5.8 billion in net outflows in October while fixed-income funds enjoyed $4.7 billion in inflows, according to data from Financial Research Corporation (FRC).
Reported by

Among the October highlights in the FRC report:

  • intermediate-term bond funds led the way during the month among the top 20 fund categories with $1.59 billion in net inflows ($30.94 billion year to date)
  • the Vanguard Group ($463 billion) and Fidelity Investments ($457 billion) continued to top the fund group list in terms of assets
  • American Funds did the best among fund groups during the month in terms of monthly net inflows at $1.8 billion while PIMCO followed at $1.6 billion. Measured year to date, American Funds was on top with $32.9 billion net inflow while PIMCO followed with $24 billion.
  • the PIMCO Total Return fund bested its peers among monthly net flows with $1 billion and hung onto the top spot with $12.9 billion year-to-date net inflow showing.

Categories

For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.

Fund categories also performing well in October, as measured by net flows, included:

  • intermediate-term bond ($1.59 billion)
  • high yield bond ($1.52 billion)
  • short-term bond ($1.5 billion)
  • foreign stock ($1.3 billion)
  • short-term government ($1.1 billion).

Fund Groups

Behind Vanguard and Fidelity in the asset race were:

  • American Funds ($312 billion),
  • Franklin Distributors Inc. ($146 billion)
  • Putnam Investments ($134 billion).

Excluded from the report is all data from Money Market funds.

In September, estimated net flows into stock and bond funds totaled $2.3 billion. (See   September Continued Equity Outflows Bond Inflows ).

«