News Flash- Jan. Flows of $44 Billion 3rd-Largest in Fund History
March 8, 2004
Equity mutual fund assets posted a $43.76 billion inflow in January, up from the $14.18 billion inflow in December, according to the Investment Company Institute's most recent survey of the fund industry.
That marks the largest monthly inflow to stock funds since their $55.61 billion inflow in February 2000 and the third-largest monthly intake in history. Overall, mutual fund assets rose $122.3 billion, or 1.3%, to a record $7.536 trillion in January, the ICI said. Its previous high was $7.467 trillion back in August 2000.
Bond funds brought in a mere $496 million in January, as compared to $3.25 billion in December. Within that category, taxable bond funds garnered $718 million while municipal bond funds lost $222 million. Money market funds had an outflow of $19.77 billion, compared with $22.62 billion the previous month.
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