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Mutual Funds
Fund assets head south
February 28, 2000: 5:58 p.m. ET

January cash flow scores record high, but market volatility drags fund assets lower
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NEW YORK (CNNfn) - Assets in U.S. mutual funds slid 1.1 percent to $6.77 trillion in January, dragged down by volatility in stock prices. Assets in bond funds also fell.
    Stock fund assets fell 2.3 percent, or $92.48 billion, from December, but January's cash flow scored a one-month record of $39.98 billion, compared with $24.98 billion in December.
    Investment Company Institute, a Washington trade group, reported that January cash flows typically are bolstered by IRA contributions for the new year, investments of year-end bonuses and 401(k) plan investments.
    Hybrid funds assets also took a tumble in January, dropping more than 4 percent to $367.6 billion. Net cash outflow during the month was $6.62 billion.
    Taxable and municipal bond funds, both declined a combined $15.72 billion for the month. The two fund types had outflow of $12.64 billion in January. Back to top

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