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March 01, 2006 at 07:00 PM
Cash flows into the nation’s stock mutual funds roared ahead in the first month of the new year, according to data released by the Investment Company Institute (ICI). U.S. stock funds took in $31.79 billion in net new cash for the month, versus an inflow of $9.82 billion in December 2005.
Overall, the combined assets of the nation’s mutual funds increased by $287.5 billion, or 3.2%, to $9.193 trillion in January, marking the first time that mutual fund assets crossed the $9-trillion barrier.
The January 2006 inflow was about triple the intake of $10.11 billion from the year-ago period.
Both international and domestic stock portfolios received significantly higher inflows in January. World equity funds — U.S. funds that invest primarily overseas — posted an inflow of of $23.55 billion in January, versus an inflow of $12.31 billion in December. Funds that invest primarily in the U.S. had an inflow of $8.24 billion in January, versus an outflow of $2.49 billion in December.
