fyi
DJ Stock Mutual Funds Saw $5.5B Outflow Fri-Mon - TrimTabs
05/15/2002
Dow Jones News Services
(Copyright © 2002 Dow Jones & Company, Inc.)
By Hollister H. Hovey
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Investors withdrew $5.5 billion from stock-based mutual funds on Friday and Monday, according to TrimTabs.com Investment Research.
Investors added $503 million to bond-based mutual funds during the same period.
Domestic stock funds accounted for the bulk of the outflows from equity funds as investors removed $3.06 billion, while international stock funds experienced net outflows of $2.45 billion.
Among domestic stock funds, investors took $2.02 billion from growth funds, while removing $677 million from aggressive growth funds and $361 million from combined growth and income.
The Dow Jones Industrial Average rose 0.7% in the same period, while the tech-heavy Nasdaq Composite Index and the Standard & Poor's 500 index both inched ahead 0.1%.
Meanwhile, amongst bond funds, investors added $500 million to government and Ginnie Mae funds, while contributing $112 million to municipal bond funds.
Hybrid bond funds, which invest in both stocks and bonds saw net inflows of $20 million, while corporate bond funds experienced net inflows of $50 million. However, high yield bond funds saw investors remove $180 million.
TrimTabs.com, of Santa Rosa, Calif., computes its estimates by directly tracking the cash flow of 543 stock funds and 321 bond funds through a computer model. The results are meant to approximate the inflow and outflow for the much larger set of funds - 3,140 stock funds and 2,610 bond funds - tracked by the Investment Company Institute, an industry trade group in Washington.
-By Hollister H. Hovey, Dow Jones Newswires; 201-938-2007; hollister.hovey@dowjones.com
(END) DOW JONES NEWS 05-15-02
11:13 AM |
