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To: marginmike who wrote (31578)	10/26/2000 1:02:16 PM
From: UnBelievable	Read Replies (1) \| Respond to of 436258

It Seems Like A Lot Of Money Is Just Moving Out of the Market Mutual Fnds Had $9 Bln Inflow Sept, Smallest In Yr:Lipper 10/26/2000 Dow Jones News Services (Copyright © 2000 Dow Jones & Company, Inc.) By Yuka Hayashi Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Net inflows into open-end mutual funds shrank dramatically in September to $9 billion, making it the weakest month since September 1999, according to fund tracker Lipper Inc. The steep decline from a hefty $42 billion inflow in August reflects, in large part, investor caution caused by the sharp drop in equity prices, Lipper said. Net flows into equity funds, estimated on the basis of Lipper survey data, fell to $15.5 billion in the latest month from $21.5 billion in August. By types of funds, inflows totaled $11 billion for U.S. diversified funds, $1.6 billion for S&P 500 Index Objective Funds, $1.0 billion for health/biotechnology funds, $0.5 billion into science and technology funds, and $0.2 billion for financial services funds. There was an outflow of $0.1 billion from telecommunications funds. World equity funds grabbed $2.8 billion in investor money, while mixed equity funds experienced an outflow of $1.3 billion. Fixed-income funds faced even a tougher month in September, as investors, after pouring $20.5 billion in August, pulled $6.5 billion. Money market funds were the main culprit for the reversal of fortune in fixed-income funds. As many retail investors withdrew money from their money, money market funds saw a net outflow of $5 billion. "The public pulled money out of money funds while institutions added cash," said Lipper analyst Donald Cassidy. "This, combined with slower inflows into equity funds, suggests that payment of estimated taxes, combined with consumer spending, may have been factors in September." -Yuka Hayashi, Dow Jones Newswires; 201-938-2129; yuka.hayashi@dowjones.com