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Rating:The Y2K Melt-Up Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, November 22, 1999

The Y2K Melt-Up

Reported by Hayley Green

Money flowing into funds has exploded. In October, $26.5 billion in new money was invested in mutual funds as opposed to the year's low in July when only $9.2 billion flowed into mutual funds, according to TrimTabs.com.

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 More Funds See Inflows
Sep 7 1999
As expected a majority of the flows went into the usual suspects, who have captured the top three spots all year: Fidelity, Vanguard and Janus. However, what is unexpected is that Janus is catching up with Vanguard in regard to flows, said Charles Biderman, president of TrimTabs.

"In October, Janus got $3 million and Vanguard got $3.3 million in equity," Biderman pointed out. This is a great contrast to the $600,000 Janus received in June compared to the $3.8 million received by Vanguard in the same month.

Biderman says he expects the "amazing surge" of money to continue to flow into funds through November. "It's part of the Y2K melt-up, early. What I think was going on during the summer was that investors were keeping higher levels of cash around just in case. But the pros in-the-know are feeling secure -- they don't believe the world is going to come to an end. The money is starting to work its way back into the market."

Fund Flows ($Million)
Month All Equity Big Three Fidelity Vanguard Janus
May 14,962 10,248 4,609 3,625 2,014
June 19,104   6,971 2,500 3,834    637
July 12,401   7,035 2,099 3,038 1,898
August   9,211   4,089    862 1,917 1,310
September   9,376   4,288    441 2,812 1,035
October 26,500   6,838    447 3,360 3,031
 

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