Fun Days for Funds—No Kidding
Article tools
sponsored by:
sponsored by:
The market may have been flat for much of 2004, but it didn't affect investors' enthusiasm for mutual funds. Total assets in the nation's mutual funds grew by $177.5 billion, or 2.2 percent, to $8.1 trillion in December, according an Investment Company Institute survey of the mutual fund industry.
Stock funds had a net inflow of $697 billion in 2004, compared with $152.28 billion in 2003 — the largest annual influx since 2000, when stock funds took in $309 billion. Long-term funds posted a net inflow of $209.81 billion on the year, compared with a net inflow of $215.84 billion in 2003. Hybrid funds had a net inflow of $42.56 billion last year compared with a net inflow of $32.58 billion in 2003.
| December 2004 | November 2004 | Percent Changed | December 2003 | |
| Stock Funds | $4,381.5 | $4,222.3 | +3.8% | $3,684.8 |
| Hybrid Funds | 518.7 | 504.5 | +2.8 | 436.7 |
| Taxable Bond Funds | 961.2 | 951.0 | +1.1 | 906.8 |
| Municipal Bond Funds | 327.7 | 325.5 | +0.7 | 334.1 |
| Taxable Money Market Funds | 1,602.0 | 1,609.6 | -0.5 | 1,763.3 |
| Tax-Free Money Market Funds | 309.9 | 310.6 | -0.2 | 288.4 |
| Total | 8,101.0 | 7,923.5 | +2.2 | 7,414.1 |
| Source: ICI | ||||
