Mutual fund inflows $502M in November

The inflows slowed substantially as investors poured more money into exchange traded funds.
JAN 04, 2008
By  Bloomberg
Mutual fund inflows slowed substantially in November, as investors poured more money into exchange traded funds, according a report from the Financial Research Corp. Combined net inflows into all mutual funds were $502 million in November, down from $19 billion during the year-ago period. The International/Global funds category had the highest net inflows, with $6.3 billion, followed by government funds, which took in $950 million. Investors pulled $5.9 billion from domestic equity funds, which make up 58%, or $4.9 billion, of the $8.4 trillion held in U.S. mutual funds. Investors withdrew $4.1 billion, $2.8 billion and $1.5 billion from Boston-based Fidelity Investments and New York-based JPMorgan Asset Management and Baltimore-based Legg Mason, respectively. State Street Global Advisors was helped by a net inflow of $5.7 billion into its SPDR Trust ETF, which tracks the Standard &Poor 500 index, ranked first among money managers with $6.1 billion in net inflows. American Funds of Los Angeles and The Vanguard Group Inc. of Malvern, Pa. followed with net inflows of $4.7 billion and $4.4 billion, respectively.

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