Long-Term Funds Reap $19 Billion in November
January 10, 2005
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.