The Markets November 3, 2009

Investors Shun U.S. Stocks in September

The combined assets of the nation’s mutual funds increased by $211.8 billion, or 2%, to $10.824 trillion in September, according to the Investment Company Institute (ICI).

Reported by

Long-term funds—stock, bond, and hybrid funds—had a net inflow of $47.52 billion in September, versus an inflow of $50.17 billion in August.

Stock funds posted a net outflow of $10.53 billion in September, compared to an inflow of $4 billion in August.  However, world equity funds (U.S. funds that invest primarily overseas) posted an inflow of $722 million in September, while funds that invest primarily in the U.S. had an outflow of $11.25 billion in September.

Money market funds had an outflow of $127.52 billion in September, compared with an outflow of $53.82 billion in August, according to ICI data. Funds offered primarily to institutions had an outflow of $90.21 billion, and funds offered primarily to individuals had an outflow of $37.30 billion.

Hybrid funds posted an inflow of $10.6 billion, compared to an inflow of $3.14 billion in the prior month.

Bond funds had an inflow of $47.45 billion in September, compared to an inflow of about $43 billion in August. Taxable bond funds posted an inflow of $37.33 billion for the month, and municipal bond funds posted an inflow of $10.12 billion.

The ICI data is available here.

Deals & People November 3, 2009

Altegris Appoints Ken McGuire as COO

Altegris named Ken McGuire as COO to oversee the growth and development of APM Funds, the company’s flagship line of alternative investment products.

Reported by

APM Funds (Altegris Premier Managers) is offered to broker/dealer representatives and registered investment advisers (RIAs). The firm said McGuire will oversee its automation, investment reporting, and back-office integration services, which enable investment professionals to seamlessly incorporate alternatives into their clients’ portfolios.

McGuire joins Altegris from BNY Mellon Alternative Investment Services, where he served as managing director of Product Management for single-manager hedge funds. McGuire entered the alternative investment industry in 1990 at Goldman Sachs within the Hedge Fund Strategies Group, where he served as co-head of Operations, Finance and Technology.

“Our mission is to provide a diverse selection of best-of-breed alternative managers that provide low correlation to traditional asset classes, at lower investment minimums,” said Jon Sundt, President and CEO of Altegris Investments. “Ken has an extensive background in developing and managing operating platforms in support of world-class alternative investment managers. Adding Ken to our team will accelerate the already rapid expansion of our platform.”

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