Mutual Fund Assets Fall for Third Straight Month
January 1, 2001
Total U.S. mutual fund assets continued to fall in November, according to the Investment Company Institute of Washington, D.C. Mutual fund assets, which have decreased the past three months, dropped 5.2 percent to $6.68 trillion in November, the lowest total since November of 1999, according to the ICI.
Cash flow into stock funds was only $8.8 billion in November after flows of over $19 billion in October, $17 billion in September and $24 in August, according to the ICI. Still, year-to-date net flows into stock funds reached past $300 billion in November, nearly double that of 1999.
Growth and income funds had inflows of $1.69 billion in November, after an outflow of $206 million in October.