July 2013: A trends in Mutual Fund investing

India Infoline News Service | Mumbai |

In the survey, mutual fund companies report actual assets, sales, and redemptions to ICI.

The combined assets of the nation’s mutual funds increased by $422.3bn, or 3.1%, to $14.064 trillion in July, according to the Investment Company Institute’s official survey of the mutual fund industry. In the survey, mutual fund companies report actual assets, sales, and redemptions to ICI.


Total Net Assets of Mutual Funds


Billions of dollars

July 2013 June 2013 % chg Dec 2012
Stock Funds 6,942.8 6,584.6R 5.4 5,934.3
Hybrid Funds 1,139.9 1,096.1R  4.0 991.0
Taxable Bond Funds 2,833.6 2,824.1R 0.3 2,847.5
Municipal Bond Funds 535.6 551.5R -2.9   578.9
Taxable Money Market Funds 2,348.7 2,324.9R   1.0 2,406.1
Tax-Free Money Market Funds 263.6 260.6   1.2 287.4
Total 14,064.2 13,641.9R   3.1 13,045.2
R=Revised data; Components may not add to the total because of rounding.

Highlights: Long-term funds—stock, bond, and hybrid funds—had a net inflow of $10.11 billion in July, versus an outflow of $58.82bn in June.


Stock funds posted an inflow of $18.11bn in July, compared with an inflow of $59 million in June.  Among stock funds, world equity funds (U.S. funds that invest primarily overseas) posted an inflow of $9.72bn in July, versus an inflow of $6.65bn in June. Funds that invest primarily in the United States had an inflow of $8.39bn in July, versus an outflow of $6.59bn in June. 


Hybrid funds posted an inflow of $8.69bn in July, compared with an inflow of $1.06bn in June.


Bond funds had an outflow of $16.70bn in July, compared with an outflow of $59.94bn in June. Taxable bond funds had an outflow of $6.53bn in July, versus an outflow of $43.47bn in June.  Municipal bond funds had an outflow of $10.17bn in July, compared with an outflow of $16.48bn in June.


Money market funds had an inflow of $26.64bn in July, compared with an outflow of $17.12bn in June. Funds offered primarily to institutions had an inflow of $30.46bn. Funds offered primarily to individuals had an outflow of $4.82bn.


Net New Cash Flow of Long-Term Funds

Millions of dollars

Stock Mutual Funds


July 2013
June 2013 YTD 2013
YTD 2012
New Sales 139,835 126,851R 936,205 779,437
Redemptions -125,692 -128,341R -851,065 -808,234R
Exchanges In 22,627 19,270R 122,078 112,483
Exchanges Out -18,658 -17,719R -112,701 -123,824
Net New Cash Flow 18,113 59R 94,518 -40,138R

Hybrid Mutual Funds

New Sales 24,554 21,800R 167,506 127,516R
Redemptions -17,304 -21,266R -119,349 -99,435R
Exchanges In 3,542 2,946 22,734 15,978
Exchanges Out -2,099 -2,421 -17,113 -12,899
Net New Cash Flow 8,693 1,058R 53,779 31,159

Taxable Bond Mutual Funds

New Sales 95,916 84,829R 634,101 565,083
Redemptions -98,107 -120,663R -579,068 -433,140
Exchanges In 12,641 12,069R 83,755 63,518
Exchanges Out -16,975 -19,700R -101,813 -51,427
Net New Cash Flow -6,525 -43,465R 36,976 144,035

Municipal Bond Mutual Funds

New Sales 10,271 10,685R 86,607 88,927
Redemptions -18,122 -22,922R -99,114 -58,608
Exchanges In 2,023 2,470 12,284 11,021
Exchanges Out -4,342 -6,708 -19,910 -8,070
Net New Cash Flow -10,170 -16,475R -20,132 33,270

Net New Cash Flow of Money Market Funds

Millions of dollars
July 2013 June 2013
YTD 2013

YTD 2012
26,644 -17,115R -87,531 -143,683

Liquid Assets of Stock Mutual Funds

Percentage of total net assets
July 2013 June 2013 July 2012
   3.9%    3.7%    4.1%

Annual Redemptions from Stock Funds

Percentage of average net assets*
July 2013 June 2013 July 2012
22.7%   23.0%   25.0%
*Redemptions over the most recent twelve-month period as a percent of average of total net assets at beginning and ending of period.

Annual Redemptions and Redemption Exchanges from Stock Funds

Percentage of average net assets*
July 2013 June 2013 July 2012
25.99% 26.33%   28.65%
*Redemptions and Redemption Exchanges over the most recent twelve-month period as a percent of average of total net assets at beginning and ending of period.

Number of Mutual Funds in this Report

July 2013 June 2013 July 2012
Stock Funds 4,505 4,505R 4,573R
Hybrid Funds 553 552R 527
Taxable Bond Funds 1,428 1,426 1,405R
Municipal Bond Funds 556 557R 558
Taxable Money Market Funds 389 393 415
Tax-Free Money Market Funds 175 177 189
Total 7,606 7,610R 7,667R
R=Revised data

 

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