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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who wrote (8866)	9/28/2001 10:24:03 AM
From: stockman_scott	Read Replies (1) of 57684

McManus on Fund Flows : Tom McManus of Banc of America comments on fund flows. Despite misplaced pleas for patriotic purchases, net redemptions from domestic equity funds intensified in the latest week The hemmorrhaging ceased for the first week in quite some time for non-domestic equity funds; though over the past 12 weeks, investors were net sellers in 9. For domestic equity funds, McManus estimates that net redemptions will total -$14.7 bln for September, making the total take for the qtr -$14 bln, the first such negative quarter since 3Q90, during the mobilization ahead of the Gulf War. Last month, firm suspected that equity funds would suffer a storm surge of net redemptions in September; now it seems these may continue into October.

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