The Markets March 28, 2008

Mutual Funds Make a Comeback in February

The combined assets of U.S. mutual funds increased by $14.37 billion, or 0.1%, to $11.742 trillion in February, according to data from the Investment Company Institute (ICI).
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Long-term funds – stock, bond, and hybrid funds – made a comeback from January’s net outflow of $22.12 billion to post a net inflow of $27.64 billion in February, ICI said.

Investors played it safe though, as money market funds posted the highest net inflow of $92.16 billion in February. Funds offered primarily to institutions had an inflow of $70.05 billion, while funds offered primarily to individuals had an inflow of $22.11 billion.

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Bond funds had an inflow of $14.87 billion in February, compared with an inflow of $24.23 billion in January. Taxable bond funds had an inflow of $13.66 billion and municipal bond funds had an inflow of $1.21 billion for the month.

Stock funds posted an inflow of $9.51 billion in February, compared with an outflow of $44.87 billion in January. Among stock funds, world equity funds (U.S. funds that invest primarily overseas) posted an inflow of $5.89 billion, while funds that invest primarily in the U.S. had an inflow of $3.62 billion in February.

Hybrid funds posted an inflow of $3.26 billion in February, compared with an outflow of $1.48 billion in January.

The ICI data is here.

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