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Mutual Funds
Fund assets drop in July
August 30, 2000: 8:05 p.m. ET

Drop in July funds assets due to market performance, volatility, ICI reports
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NEW YORK (CNNfn) - Assets in mutual funds fell 0.6 percent in July, affected mostly by market performance and volatility rather than net cash flow.

Combined net assets in all U.S. mutual funds rose fell to $7.077 trillion from $7.117 trillion in July, according to a monthly survey of the industry by the Investment Company Institute, a Washington-based trade group.

Assets in stock funds decreased by $84.30 billion for a total of $4.232 billion, with net new cash flow of $17.58 billion during the month, down from $22.14 billion in June.

graphicMeanwhile, assets of taxable and bond funds increased by $4.00 billion for a total of $725.7 billion in July. Taxable bond funds reversed its June inflow of $1.67 billion with an outflow of $1.58 billion in July. Assets in July totaled $527.7 billion.

Cash flow to growth funds increased from $9.70 billion to $10.29 billion, while assets of hybrid funds increased by $1.59 billion to a total of $352.4 billion. Back to top

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