Stock Funds Turn About Face -- Receive Inflows in

Net new money continued to flow into bond funds in November to the tune of $7.74 billion, versus an inflow of $6.44 billion in October

Year-to-date through the end of November, bond funds — both taxable and tax-free — have received $133.48-billion in net new cash, far ahead of last year’s figure of $89.74-billion.

Money market funds had an inflow of $127.56-billion in November, compared with an inflow of $12.47-billion in October. Funds offered primarily to institutions had an inflow of $134.82 billion in November. Funds offered primarily to individuals had an outflow of $7.27 billion.

Overall, the combined assets of the nation’s mutual funds increased by $317.90-billion to $6.555-trillion in November.

Net New Cash Flow of Lng-Trm Fnds (Bil.$) STCK MTL FNDSAmts in Bil$ Nov 02October 02*YTD 02YTD 01*

• New Sales66.2974.87837.84870.62
• Redemptions-60.85-77.23-814.36-813.23
• Net Exchanges1.03-5.15-43.35-28.26
• Net New Cash Flow6.46-7.50-19.8729.13

TAXABLE BOND MUTUAL FUNDS November 2002October 2002*YTD 2002YTD 2001*

• New Sales26.7132.25300.98220.43
• Redemptions-18.82-25.88-205.57-157.03
• Net Exchanges01.6122.2913.83
• Net New Cash Flow7.907.98117.7177.23

MUNICIPAL BOND MUTUAL FUNDS November 2002October 2002*YTD 2002YTD 2001*

• New Sales4.505.8761.7351.65
• Redemptions-4.34-6.44-47.36-40.54
• Net Exchanges-0.330.961.411.41
• Net New Cash Flow-0.16-1.5415.7712.51

HYBRID MUTUAL FUNDS November 2002October 2002*YTD 2002YTD 2001*

• New Sales5.755.8772.3663.79
• Redemptions-4.75-6.42-63.31-55.57
• Net Exchanges0.21-0.47-0.580.27
• Net New Cash Flow-1.21-1.028.468.48