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The Markets August 29, 2007
Mutual Funds See Positive Inflows in July
A month after suffering a $2.7-billion outflow, mutual funds ducked back into solid positive territory in July with $26.7 billion in inflows, according to data from the Financial Research Corporation (FRC).
Reported by Fred Schneyer
A FRC news release said International/Global funds led the charge in July with net inflows of $19.2 billion, followed by Corporate funds with a $3.5 billion net advance. Domestic equity funds had $3.13 billion in July inflows.
June’s asset drop followed a $5.3-billion advance in May, according to the data.
By Morningstar category, Intermediate-Term Bond Funds led the way in July with $5.37 billion in inflows, followed by Foreign Large Blend with $3.83 billion in inflows, World Stock with $2.81 billion, Large Blend with $2.46 billion, and Foreign Large Value with $2.1 billion.
American Funds topped all complexes with $5.6 billion of July net inflows, followed by State Street Global Advisors at $5 billion and the Vanguard Group at $4 billion.
Fidelity’s Nasdaq 100 Index collected $4.9 billion to lead the July fund sales charts, followed by State Street Global Advisers’ SPDR Trust at $2.45 billion, and American Capital Income Builder at $1.52 billion.