The Investment Company Institute (ICI) released in late October its official survey of the mutual fund and exchange traded funds (ETFs) industries. ICI found that the combined assets of the nation’s ETFs were 10% higher to $882.75 billion in September, while the combined assets of the nation’s mutual funds increased by $486.2 billion, or 4.5%, to $11.267 trillion in September.
The ICI survey revealed that long-term funds—stock, bond and hybrid funds—had a net inflow of $17.20 billion in September versus an inflow of $13.53 billion in August.
Assets of all exchange-traded funds rose in September by $81.86 billion, or 10.2%, to $882.75 billion. Over the past 12 months, ICI states that ETF assets increased $189.37 billion, or 27.3%. Assets in domestic equity ETFs increased $80.66 billion since September 2009, and global equity ETFs assets rose $63.33 billion during this period. At the end of September 2010, assets of bond funds were $140.96 billion and hybrid funds were $308 million.
Getting back to the mutual fund data, ICI says that stock funds posted an outflow of $11.16 billion in September, compared with an outflow of $16.50 billion in August. Among stock funds, world equity funds (U.S. funds that invest primarily overseas) posted an inflow of $3.54 billion in September, vs. an outflow of $943 million in August. Funds that invest primarily in the U.S. had an outflow of $14.70 billion in September, vs. an outflow of $15.55 billion in August.
Hybrid funds posted an inflow of $1.87 billion in September, compared with an outflow of $782 million in August.
Bond funds had an inflow of $26.49 billion in September, compared with an inflow of $30.81 billion in August. Taxable bond funds had an inflow of $24.21 billion in September, vs. an inflow of $25.71 billion in August. Municipal bond funds had an inflow of $2.29 billion in September, compared with an inflow of $5.11 billion in August.
Money market funds had an outflow of $32.34 billion in September, compared with an inflow of $19.07 billion in August. Funds offered primarily to institutions had an outflow of $16.85 billion. Funds offered primarily to individuals had an outflow of $15.49 billion.
During September, the ICI data found that the value of all ETF shares issued exceeded that of shares redeemed by $25.80 billion. In September 2009, ETFs experienced a net issuance of $9.40 billion.