MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, October 29, 2002 World Fund Assets Fall in Q2 Mutual fund assets worldwide stood at $11.56 trillion at the end of second quarter of 2002, down 1.7 percent since the end of the first quarter, according to the Investment Company Institute report on 36 countries. The second-quarter decline was moderated by weakness in the U.S. dollar. Measured in domestic currencies, assets in 25 of the 36 countries fell in the second quarter. However, only eight of the countries posted lower dollar-valued assets. Assets of equity funds were $4.82 trillion at the end of the second quarter, down 8.1 percent from the first quarter. Depreciation in the U.S dollar, however, moderated the magnitude of the slide. Bond funds posted a 6.1 percent gain in assets, while assets of money market funds and balanced/mixed funds rose 1.8 and 0.7 percent, respectively. At the end of the second quarter, assets of equity funds represented 42 percent of all worldwide mutual fund assets. Money market funds accounted for 26 percent; bond funds, 20 percent; balanced-mixed funds, 8 percent; and other-unclassified, 4 percent. Mutual funds collectively saw an outflow of $16 billion in the second quarter, according to the report. Printed from: MFWire.com/story.asp?s=3815 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |