The combined assets of the nation’s mutual funds decreased by $7billion to $6.968 trillion in January, according to the Investment Company Institute’s official survey of the mutual fund industry.

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Lord Abbett estimates that its managed account business grew by 50% during the 2001 calendar year. The firm also contends that its assets under management for that business equal approximately $9.3 billion. The firm further states that it passed the $10 billion mark in February. 

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