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Portfolio > Mutual Funds > Bond Funds

Fund Flows Favor Growth, International, Data Says

By Jim Connolly

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Long-term stock, bond and hybrid funds had a net inflow of $36.8 billion in February 2006 compared with a net inflow of $39.74 billion in January, according to the Investment Company Institute, Washington.

Total assets increased by $25.9 billion to $9.219 trillion in February, ICI reported.

Stock funds experienced an inflow of $27.33 billion in February compared with $31.58 billion in January. World equity funds, U.S. funds that invest primarily overseas, posted an inflow of $18.98 billion in February compared with an inflow of $23.54 billion in January. Funds that invest primarily in the U.S. had an inflow of $8.35 billion in February vs. an inflow of $8.04 billion in January.

Bond funds had an inflow of $8.71 billion and $8.28 billion in the same time periods, ICI reported. Taxable bond funds had an inflow of $5.85 billion in February vs. an inflow of $6.23 billion in January. Municipal bond funds had in inflow of $2.86 billion in February compared with $2.05 billion in January.

Hybrid funds posted an inflow of $761 million in February compared with an outflow of $114 million in January.

Money market funds had an inflow of $5.41 billion in February compared with an outflow of $4.43 billion in January.

In the first two months of 2006, money flowed into growth funds and away from value funds, according to the February 2006 issue of “Windows Into The Mutual Fund Industry,” a newsletter of Strategic Insight, New York.

Growth funds had flows totaling $10.6 billion in the first two months of 2006 compared with $1.3 billion for value funds, according to the issue of Windows, which culled data from Strategic Insight Simfund MF, Lipper Inc. Multi-cap growth led the growth fund flows with $10.9 billion compared with $1.5 billion for mid-cap growth funds, $718 million for small-cap growth funds and an outflow of $2.5 billion for large-cap growth funds, data in the newsletter states.

During the first two months of 2006, U.S.-based international/global fund net flows outpaced domestic equity fund flows, continuing the 2005 trend, according to Windows. For the first two months of 2006, domestic equity funds had $21 billion or 29% of net new flows, while international equity funds had $52 billion or 71%, Windows indicates.

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