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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (27945)	9/30/1999 7:46:00 AM
From: Les H	Respond to of 99985

Flows to stock mutual funds decrease in August WASHINGTON, Sept 29 (Reuters) - Net new cash flowing into stock mutual funds fell to $9.21 billion in August from a revised $12.40 billion in July, the Investment Company Institute (ICI) said Wednesday. The ICI, trade group for the U.S. mutual fund industry, previously reported the July inflows at $12.29 billion. Assets of stock funds fell $23.63 billion to $3.34 trillion reflecting volatility in stock prices, the ICI said. On a year-to-date basis, new flows to stock funds for the first eight months of 1999 were $112.05 billion, down about 15 percent from $132.38 billion in the same period in 1998. The August data showed new sales of stock funds falling to $66.01 billion from $74.83 billion in July. Redemptions were lower in the latest period, falling to $56.20 billion from $59.89 billion in July. The ICI said the August flows reflected smaller cash flows into aggressive growth and growth funds, while cash flow to world equity funds was $1.08 billion in August compared to an outflow of $3.95 billion in July. The aggressive growth funds had cash flow of $1.51 billion in August versus $2.21 billion in July, while growth funds had a flow of $3.94 billion compared to $8.59 billion in July. Taxable bond fond had inflows of $473.2 million in August compared to $1.47 billion in July. Municipal bond funds had an outflow of $1.46 billion in August versus an outflow of $905.0 million in July. Hybrid funds, which invest in both stocks and bonds, had an outflow of $937.4 million in August compared to an outflow of $207.7 million in July. Net new cash flow into money market funds amounted to $27.90 billion, up from $19.77 billion in July.