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Investing October 30, 2006
Mutual Funds Continue Growth in September
October 30, 2006 (PLANSPONSOR.com) - Assets of US
mutual funds increased by $137.5 billion, or 1.4%, to $9.722
trillion in September, according to data from the Investment
Company Institute (ICI).
Reported by Rebecca Moore
The growth was modest compared to the $206.8 billion increase in August (See Equity Funds’ Asset Inflow Takes a Leap in August ). Long-term funds – stock, bond, and hybrid funds – had a net inflow of $11.71 billion in September, versus an inflow of $11.93 billion in August, ICI data showed.
Stock funds posted an inflow of $6.47 billion in September, compared with an inflow of $5.06 billion in August. World equity funds (US funds that invest primarily overseas) posted an inflow of $9.43 billion in September, while funds that invest primarily in the US had an outflow of $2.97 billion for the month.
Bond funds had an inflow of $4.60 billion in September, compared with an inflow of $6.64 billion in August. The bulk of the inflow is attributable to taxable bond funds which had an inflow of $3.24 billion in September, versus an inflow of $5.20 billion in August. Municipal bond funds had an inflow of $1.37 billion in September, compared with an inflow of $1.44 million in August.
Money market funds recorded an inflow of $15.47 billion in September – well below the inflow of $42.87 billion in August. Funds offered primarily to institutions had an inflow of $10.29 billion, while funds offered primarily to individuals had an inflow of $5.18 billion.
Hybrid funds posted an inflow of $640 million in September, compared with an inflow of $236 million in August.
More ICI statistics can be viewed here .