Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: bobby beara who wrote (34143)	11/24/1999 5:51:00 PM
From: Benkea	Read Replies (1) \| Respond to of 99985

Wednesday November 24, 5:25 pm Eastern Time U.S. stock funds attracting huge amounts of cash By Cal Mankowski NEW YORK, Nov 24 (Reuters) - U.S. stock mutual funds have attracted huge amounts of cash in the first three weeks of November, pointing to a possible record month that improves on a resurgence that started in October, according to unofficial estimates. Mutual Fund Trim Tabs, a Santa Rosa, Calif.-based data service, calculates that November net inflow into stock funds could top $34 billion, research director Carl Wittnebert said Wednesday. The figure assumes that the pace through Nov. 23 will continue. Wittnebert said that the advance in stock prices Wednesday, which had the Nasdaq composite surging more than 2.3 percent and the Dow industrials and Standard & Poor's 500-stock index each posting smaller gains, made it less likely that there would be a trend reversal in the final days of the month. The all-time record for net flows into stock funds was just under $30 billion in January, 1997, according to the Investment Company Institute (ICI), a fund industry trade group. The ICI is expected to report official monthly figures for October early next week. Mutual Fund Trim Tabs, which collects information from about 90 fund groups representing about 20 percent of fund assets, estimates stock funds took in an estimated $26.5 billion in October. The service uses a statistical method to arrive at an estimate for the industry as a whole. If the Mutual Trim Tabs figures are confirmed by the official ICI data, it would represent a strong rebound from mid-year. After attracting $25.84 billion in net flows in April, when the U.S. stock market was making a strong advance, net inflow were under $20 billion in each of the following three months and they fell below $10 billion in August and again in September. Aggressive growth funds, which typically have substantial investments in technology companies, and funds focused on specific industry sectors have been attracting a significant portion of the new money, Wittnebert said. Separately, Lipper Inc, a unit of the Reuters Plc group of companies (NasdaqNM:RTRSY - news) (quote from Yahoo! UK & Ireland: RTR.L), this week estimated that stock funds took in more than $16 billion in net new cash for October, about double the pace in September. According to Lipper's breakdown, funds investing in companies that are growing rapidly had inflow for the month while those investing in companies that represent reasonable value experienced outflows.