The Markets January 31, 2008

Fund Assets Swell to $12T in December

The combined assets of the nation's mutual funds decreased by $30.4 billion, or 0.3%, to $12.04 trillion in December, according to the Investment Company Institute (ICI).
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Long-term stock, bond, and hybrid mutual funds had a $2.69 billion net inflow in December after a November outflow of $7.11 billion. Stock funds posted an inflow of $1.29 billion in December, compared to an outflow of $9.94 billion in November.

Among stock funds, world equity funds posted an inflow of $9.26 billion in December versus an inflow of $4.64 billion in November. Funds that invest primarily in the U.S. had an outflow of $7.96 billion in December versus an outflow of $14.58 billion in November.

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Bond funds had an inflow of $584 million in December, compared to an inflow of $1.96 billion in November. Taxable bond funds had an inflow of $4.06 billion for the month, while municipal bond funds had an outflow of $3.48 billion.

Money market funds had an inflow of $35.5 billion in December, compared to an inflow of $101.3 billion in November. Funds offered primarily to institutions posted an inflow of $16.6 billion, and funds offered primarily to individuals took in $18.8 billion.

Hybrid funds posted a December inflow of $810 million.

The latest ICI data is available here.

The Markets January 31, 2008

New S&P India Index Meets Socially Responsible Investing Standards

Standard&Poor’s, CRISIL, and KLD Research&Analytics, a social and environmental research firm, have announced the launch of the S&P ESG India Index.
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The S&P ESG India Index is made up of companies whose business strategies and performance demonstrate a high level of commitment to meeting environmental, social, and governance (ESG) standards.

Initiated and sponsored by the International Finance Corporation (IFC), a member of the World Bank group, it comprises 50 Indian companies that meet certain ESG criteria and have been drawn through a two-stage screening process from the largest 500 companies listed on the National Stock Exchange of India.

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According to a company announcement, the index will provide a model for the launch of similar indexes in other emerging markets.

The S&P ESG India Index will be maintained by India Index Services Ltd., a joint venture between CRISIL and the National Stock Exchange of India.

A detailed methodology and fact sheet on the S&P ESG India Index are available at www.standardandpoors.com/indices.

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