Summertime Blues
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an InvestmentWires' Publication
Tuesday, July 30, 2002

Summertime Blues

Perhaps with the bullish nature of the market the past couple of days, we can look at these mutual fund industry figures now with a smile and a silent prayer. The total assets of mutual funds decreased by $291.6 billion in June, at least according to the Investment Company Institute (ICI). Total combined assets in mutual funds for the month, then, were $6.632 trillion.

The ICI reports that stock fund outflows in June equal $18.05 billion. This contrasts with a $4.88 billion inflow in May. Domestic funds had an outflow of $18.7 billion in June; this compares unfavorably with $2.77 billion in May. Stock funds with an overseas strategy actually had inflows in June of $658 million; these same funds had inflows in May of $2.1 billion.

Bond funds, though, had a good month. They saw an inflow of $12.23 billion in June, compared to $10.6 billion in May. The ICI notes that this was the third largest inflow for bond funds ever.

Money market funds, meanwhile, saw an outflow of $43.44 billion in June. In May, they had an outflow of $4.3 billion.

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