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Long-Term Funds Reap $19 Billion in November

Mutual funds had stronger net inflows in November than in the month before or the year earlier, according to Financial Research Corp.

Stock and bond funds had $19 billion of net inflows last month, up a mere 1.6% from last year, when stock and bond funds gathered $18.7 billion in assets. However, the inflows were up 32% from October, when they took in $14.4 billion.

Domestic equity funds led the way, with $13.3 billion of inflows. International funds took in $10.8 billion.

By individual category, moderate allocation funds and mid-cap value funds had the biggest net inflows in 2004 through November, each taking in $3 billion. World allocation funds were the third-most popular funds in the period, taking in $2.5 billion.

American Funds topped all fund companies in terms of net inflows through November, taking in $7.7 billion of inflows, followed by Barclays Global, netting $6.3 billion. State Street Global came in as the third best-selling fund complex, reaping $6.3 billion. Driving that growth was the firm's SPDR exchange-traded fund, which gathered an estimated $3.6 billion to lead the individual-fund sales chart.