Mutual fund assets grow despite outflows, ICI says

Mutual fund assets grew by 2.3% in March, according to a report released by the Investment Company Institute.
APR 30, 2009
Mutual fund assets grew by 2.3% in March, according to a report released by the Investment Company Institute. Assets grew to $9.249 trillion, reflecting an increase of $211.2 billion from February, the report said. Stock funds had the biggest growth among the categories, with a 7.3% increase in assets, followed by hybrid funds, with 4.2%. Hybrid funds invest in both stocks and bonds. Still, stock and hybrid funds both posted outflows for the month. Stock funds shed $27.54 billion in March, representing an increase from the $24.88 billion in outflows in February. World equity funds, which invest largely overseas, had an outflow of $11.14 billion, and funds that invest primarily in the United States posted a outflow of $16.4 billion, the ICI said. Hybrid funds had an outflow of $4.05 billion for the month. At the same time, bond funds had a inflow of $21.03 billion, the ICI of Washington reported. In February, bond funds had an inflow of $16.97 billion. Taxable-bond funds posted an inflow of $17.69 billion, and municipal bond funds had a $3.34 billion inflow for the month. Money market mutual funds had an outflow of $77.02 billion, the ICI said.

Latest News

RIA dealmaking accelerates as three firms hit AUM milestones
RIA dealmaking accelerates as three firms hit AUM milestones

Wealth Consulting Group, Coastline and Maridea report fresh capital, acquisitions and asset growth as advisor M&A keeps climbing

VastAdvisor closes $1 million SAFE round from advisor-side backers
VastAdvisor closes $1 million SAFE round from advisor-side backers

Carson Group's Dani Fava, Jason Pereira of Woodgate Financial, and Sally George of Convergency Partners led the raise as the growth-tech startup builds out its AI platform and leadership bench.

Wells Fargo adds three advisor practices as recruiting rebound continues
Wells Fargo adds three advisor practices as recruiting rebound continues

New teams from William Blair, Ameriprise and UBS bring more than $560 million in combined client assets to the firm's employee and independent channels.

UBS will pay advisors 'handsomely' for banking starting next year
UBS will pay advisors 'handsomely' for banking starting next year

Regulators this year approved UBS Bank USA’s conversion to a nationally chartered bank.

SEC accuses Tricolor executives of hiding $800 million collateral hole
SEC accuses Tricolor executives of hiding $800 million collateral hole

How a subprime lender’s car-loan bonds allegedly unraveled before bankruptcy.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income