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Investing July 31, 2006
Mutual Fund Assets Inch Back Up in June
July 31, 2006 (PLANSPONSOR.com) - The combined
assets of US mutual funds increased by $10.3 billion, or
0.1%, to $9.329 trillion in June, according to data from the
Investment Company Institute (ICI).
Reported by Rebecca Moore
This slight increase follows a decline of 1.8% in May (See Mutual Fund Assets Decline in May ).
Stock funds posted an outflow of $8.40 billion in June, compared with a revised reported inflow of $3.16 billion in May. According to the ICI data, world equity funds posted an inflow of $945 million in June, while funds that invest primarily in the US had an outflow of $9.34 billion in June.
Bond funds had an outflow of $345 million in June, much smaller than its outflow of $2.55 billion in May. Taxable bond funds had an outflow of $668 million in June, and municipal bond funds had an inflow of $323 million for the month.
Hybrid funds posted an outflow of $438 million in June, versus an outflow of $155 million in May.
Once again investors were moving their assets to money market funds, which posted an inflow of $20.06 billion in June, compared with an inflow of $50.83 billion in May. Funds offered primarily to institutions had an inflow of $5.99 billion for the month, while funds offered primarily to individuals had an inflow of $14.07 billion.
The ICI data is here .