Dec. 26, 2002 — Stock funds reversed course by receiving a net new cash inflow of about $6.46-billion for the month of November versus an outflow of $7.50-billion for the prior month, according to data released by the Investment Company Institute.
Year-to-date through the end of November, however, equity portfolios have suffered a net outflow of $19.87-billion.
John Collins, an ICI spokesman, indicated that equity funds had endured five consecutive months of net outflows; in fact, from June through October 2002, stock portfolios lost about $97-billion in cash.
Specifically, domestic stock funds had an inflow of $6.20- billion in November, compared with an outflow of $7.38- billion in October. Stock funds that invest overseas had an inflow of $268-million in November, compared with an outflow of $128-million in October.
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ICI also noted that the last full year during which stock funds showed net outflows was 1988.