IMHO: Ballot 'Initiative'

For all the talk of “hope″ and “change,″ this extended election cycle has offered little of either, IMHO.

Now, I realize that there are those among you who are highly enamored of one candidate or the other – or at least highly un-enamored of the other. But, IMHO, if you don’t have some concerns about how both of the candidates would conduct themselves in office on at least some issues, you haven’t been paying attention.

Nonetheless, our nation’s tried and tested method of screening and selecting representatives has, with all its flaws, done its job.

Now it’s our turn.

Come Tuesday, we have a real choice to make. And this one – more than most, perhaps more than any in my lifetime – feels like a “game changer.’

As individual voters, it may not feel like we can have much impact, particularly if your state reliably goes “blue’ or “red’ (whether you do or not). However, the reality is that our votes do make a difference – if not in the result, then at least in the margin of the result; not just in terms of who sits in the Oval Office, but the tenor of voices on Capitol Hill, the influences in state legislatures, the composition of that local school board….

These are the people who will set in motion policies and practices that can have an impact that can, for good or ill, be felt far beyond their terms of office.

You owe it to yourself, to those you love, to those who have fought and died to preserve your right – your privilege – your responsibility – to vote.

Q208 Sees Slight Fund Asset Drop-Off

Mutual fund assets worldwide decreased 0.7% to $24.64 trillion at the end of the second quarter of 2008, according to Investment Company Institute (ICI) data.

An ICI news release said on balance, net cash flow to all funds was close to zero in the second quarter, as net flows out of money market funds nearly completely offset net flows into long-term funds, according to ICI.

Long-term funds had net inflows of $72 billion in the second quarter, partially reversing net outflows of $92 billion in the prior quarter. The reversal was due to strengthening net flows into equity funds and balanced/mixed funds, which combined had net inflows of $43 billion in the second quarter, compared to net outflows of $147 billion in the first quarter.

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Notably, after 12 consecutive quarters with positive net flows, money market fund flows turned to the downside in the second quarter, ICI said. Money market funds experienced net outflows of $70 billion in the second quarter, compared with inflows of $486 billion in the previous quarter of 2008 and inflows of $800 billion for the year in 2007.

Net cash flow into mutual funds worldwide was $2 billion in the second quarter of 2008, with net outflows from money market funds nearly offsetting the net inflows into long-term funds. Net inflows into equity funds worldwide were $28 billion in the second quarter, compared to a net outflow of $132 billion in the first quarter of 2008.

The Americas registered net inflows of $35 billion into equity funds in the second quarter, compared to a net outflow of $47 billion in the first quarter. The pace of net outflows from European equity funds slackened in the second quarter, with $24 billion in outflows compared to $115 billion in the first quarter, ICI said. Flows to equity funds in the Asia/Pacific region slowed but remained positive, dropping to $16 billion in the second quarter compared to $31 billion in the first quarter.

Bond funds experienced $14 billion in net inflows in the second quarter of 2008, compared to net inflows of $13 billion in the first quarter of 2008. Net inflows to bond funds were $38 billion in the Americas in the second quarter, down from $79 billion in the first quarter. Net outflows from bond funds were $39 billion in Europe in the second quarter, compared to net outflows of $59 billion in the first quarter.

More information is available here.


See also: “Funds See September Asset Drop

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