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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (26054)1/31/2002 10:48:13 PM
From: t2  Read Replies (1) of 99280
 
The largest mutual funds had sizable cash position as of December 31/2001. American Funds got large inflows last year (see story below). I looked at their holdings.
In the 3 large mutual funds--each 50billion or so.
2 of the 3 had cash levels of 18% at year end. Holdings seem to be quite conservative with not much in technology.
If anyone is interested, just go to their website.
Also checked the Fidelity Magellan--cash levels seem normal.
Vanguard -- did not check since money probably went into the index funds.

Data is only 1 month old.
Just one indicator among many of course. May or may not extend to mutual fund industry in general but is a good indicator, IMHO.
January was not a strong month in the market and I suspect cash levels in general went up--my hunch.
Probably adds some support underneath the market.

Here is that article that had determined the inflows last year and how American Funds took in tons of cash.
Story from yesterday.
cbs.marketwatch.com
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