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Investing October 30, 2000
Mutual Funds Slip In September
October 30, 2000 (PLANSPONSOR.com) - Mutual fund
assets slipped 2.6% to $7.28 trillion in September, according
to the Investment Company Institute.
Reported by Nevin E. Adams
Stock mutual funds dropped $182 billion, despite net new cash flow of $17.26 billion during the month. Hybrid fund assets declined $8.28 billion and had a net outflow of $2.12 billion in September. Bond funds slipped $3.91 billion and had a combined net outflow of $3.07 billion.
Stock fund flows were varied:
- Aggressive growth funds experienced a $5.91 billion net cash flow, down from $8.41 billion in August
- Growth funds had cash flow of $9.16 billion in September, compared with $12.24 billion in August. Growth and income funds saw an inflow of $62.6 million last month, versus a $2.84 billion outflow in August
- International equity funds garnered a net cash flow of $1.52 billion in September, down somewhat from the $3.70 billion in August.
Other Categories
Hybrid funds experienced a net outflow of $2.12 billion, a bit worse than August’s $1.33 billion. Taxable bond funds had an outflow of $1.7 billion in September, compared with a $1.33 billion outflow the month before, while September saw some $1.37 billion flow from municipal bond funds, significantly higher than the outflow of $514.5 million in August.