-- DJ Stock Mutual Funds Saw $5.94B Outflow Fri-Mon - TrimTabs --
By Michelle Rama
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Investors pulled $5.94 billion out of stock-based mutual
funds Friday through Monday, according to TrimTabs.com Investment Research.
Meanwhile, investors added $833 million to bond-based mutual funds during the
same period.
Domestic stock funds accounted for the bulk of outflows from equity funds as
investors withdrew $4.87 billion. International stock funds saw outflows of
$1.07 billion.
Among domestic stock funds, growth funds lost $2.97 billion and aggressive
growth fund investors redeemed $1.41 billion. Growth & Income funds were
depleted of $498 million
The Dow Jones Industrial Average rose 1% in the same period, while the
tech-heavy Nasdaq Composite Index rose 0.06%. The Standard & Poor's 500 Index
rose 0.98%.
In bond funds, investors added $467 million to corporate bond funds, $384
million to government and Ginnie Mae bond funds and $43 million to hybrid funds,
which invest in both stocks and bonds. High-yield bond funds received $39
million in investments. Meanwhile, municipal bond funds saw $100 million in
redemptions.
TrimTabs.com, 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.
-Michelle Rama, Dow Jones Newswires; 201-938-4046; michelle.rama@dowjones.com
(END) Dow Jones Newswires
12-18-02 1053ET- - 10 53 AM EST 12-18-02
18-Dec-2002 15:53:00 GMT
Source DJ - Dow Jones |
