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Fund assets rise again
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January 31, 2000: 3:29 p.m. ET
Assets hit $6.84 trillion, but gains tempered by declines in bond funds
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NEW YORK (CNNfn) - U.S. mutual fund assets rose 6.1 percent in December, boosted by strong cash flow into stock funds. Gains were tempered, however, by declines in bond funds.
Combined assets in the nation's funds totaled $6.84 trillion, up from a revised $6.45 trillion in November, reported the Investment Company Institute, a Washington trade group, on Monday.
Higher stock prices in December pushed stock fund assets up $364.78 billion, or 9.9 percent, for a total of $4.04 trillion, ICI said. Net new cash flow totaled $24.26 billion for the month versus $19.02 billion in November.
Taxable and municipal bond fund assets, meanwhile, fell $15.45 billion. The funds had a combined outflow of $13.46 billion during the month.
Taxable bond assets dropped 1 percent to $536.6 billion, while assets in municipal bonds fell more sharply, declining 3.6 percent to $271.6 billion, ICI said. 
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ICI
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