Stock Funds Enjoy Strong Inflows in April: ICI

May 30, 2003 — Equity funds had an inflow of $16.1 billion in April, compared with a revised outflow of $276 million in the prior month, according to data from the Investment Company Institute.

Domestic equity funds had an inflow of $12.52 billion in April, compared with an inflow of $1.1 billion in March. Stock funds that invest overseas had an inflow of $3.58 billion in April, compared with an outflow of $1.37 billion in March.

The ICI also said that bond funds had an inflow of $10.56 billion in April, compared with an inflow of $10.64 billion in March.

Money market funds had an outflow of $53.70 billion in April, compared with an outflow of $32.30 billion in March. Funds offered primarily to institutions had an outflow of $23.84 billion in April. Funds offered primarily to individuals had an outflow of $29.86 billion for the month.

Year to date through April, equity funds have received an inflow of $4.5 billion, compared with an inflow of $66.6 billion at this time last year.

Overall, the combined assets of the nation’s mutual funds increased by $220 billion, or 3.5%, to $6.5 trillion in April.

Net New Cash Flow of Long-Term Funds (Bil.$)

STOCK MUTUAL FUNDSAmounts in Billion $

April 2003March 2003*Year-to-Date 2003Year-to-Date 2002*

New Sales64.3760.75246.61350.41

Redemptions-50.82-57.95-231.36-287.44

Net Exchanges2.55-3.08-10.783.63

Net New Cash Flow16.10-0.284.4766.60

TAXABLE BOND MUTUAL FUNDS

April 2003March 2003*Year-to-Date 2003Year-to-Date 2002*

New Sales32.9735.01133.6794.51