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/REPEATING FROM YESTERDAY/

 NOVEMBER MUTUAL FUND SALES TOTAL $28.7 BILLION
 WASHINGTON, Dec. 30 /PRNewswire/ -- The Investment Company


Institute issued the following:
 Total Sales of Long-Term Funds
 Sales of stock and bond and income mutual funds totaled $28.7 billion in November, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $28.0 billion in October and $22.7 billion in November 1991.
 Sales of stock mutual funds totaled $12.2 billion in November, compared with $9.9 billion in October and $9.2 billion in November 1991. Growth and income funds, with sales of $4.6 billion, led all fund categories.
 November sales of bond and income mutual funds totaled $16.5 billion, compared with $18.2 billion in October and $13.5 billion in November 1991. Government funds led bond and income fund categories, with sales of $3.3 billion.
 Total sales represent the total value of purchases of new shares, including reinvested dividends. The total sales number does not include exchanges from one fund to another in the same fund group.
 New Sales
 New sales (which exclude reinvested dividends) totaled $26.8 billion in November, compared with $26.2 billion in October and $21.2 billion in November a year ago.
 New sales of stock funds were $12.0 billion, compared with $9.7 billion in October and $9.1 billion in November 1991. New sales of bond and income funds reached $14.8 billion, compared with $16.5 billion in October and $12.1 billion in November a year ago.
 Redemptions
 Total redemptions (liquidation of shares by fund shareholders) were $12.9 billion in November, compared with $15.3 billion in October and $10.8 billion in November 1991. Stock fund redemptions were $4.8 billion in November, compared with $5.0 billion in October and $5.0 billion in November 1991. Bond and income fund redemptions were $8.1 billion in November, compared with $10.3 billion in October and $5.8 billion in November 1991.
 Net Sales
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including both stock and bond and income categories, were $15.8 billion in November, compared with $12.7 billion in October and $11.8 billion in November 1991. Net sales of stock funds were $7.4 billion in November, compared with $4.9 billion in October and $4.2 billion in November 1991. Net sales of bond and income funds totaled $8.4 billion in November, compared with $7.8 billion in October and $7.6 billion in November 1991.
 Net New Sales
 Net new sales (sales excluding reinvested dividends less redemptions) were $13.9 billion in November, compared with $10.9 billion in October and $10.3 billion in November 1991.
 Net new sales of stock funds in November were $7.2 billion, compared with $4.7 billion in October and $4.1 billion in November 1991. November net new sales of bond and income funds were $6.7 billion, compared with $6.2 billion in October and $6.3 billion in November 1991.
 Net Exchanges
 Net exchanges of stock funds totaled $2.7 billion, compared with $261.4 million in October and -$539.0 million in November 1991. Bond fund net exchanges totaled $1.0 billion compared with -$4.0 billion in October and $14.7 million in November 1991. Exchanges are investments redeemed from one fund and moved to another fund in the same fund group or complex.
 Net Cash Flow
 Net cash flow (net sales combined with net exchanges) into long- term funds was $19.6 billion in November, compared with $8.9 billion in October and $11.3 billion in November 1991. Net cash flow into stock funds was $10.1 billion in November, compared with $5.1 billion in October. It was $3.7 billion in November 1991. Net cash flow into bond and income funds was $9.5 billion, compared with $3.8 billion in October and $7.7 billion in November 1991.
 Net New Cash Flow
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $17.6 billion, compared with $7.1 billion in October and $9.8 billion in November 1991. Net new cash flow into stock funds was $9.9 billion in November, compared with $5.0 billion in October and $3.5 billion in November 1991. Net new cash flow into bond and income funds was $7.8 billion, compared with $2.1 billion in October and $6.3 billion in 1991.
 Assets
 Assets of all mutual funds totaled $1.590 trillion ($1,589.7 billion) in November, compared with $1.559 trillion ($1,558.5 billion) in October. Total assets in November 1991 were $1.314 trillion ($1,313.6 billion). Total assets of long-term funds for November exceeded $1 trillion for the first time, reaching $1.020 trillion ($1,020.1 billion) compared with $983.2 billion in October and $752.8 billion in November 1991.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) rose to $569.6 billion in November, from $575.4 billion in October. Assets of these short-term funds were $560.8 billion in November 1991.
 TOTAL ASSETS OF FUNDS
 (millions of dollars)
 November 1992 October 1992 November 1991
 Stock $456,777.2 $431,854.8R $328,871.7
 Bond & Income 563,314.7 551,296.6R 423,926.0
 Taxable Money
 Market 472,881.4 480,086.9 468,505.2
 Tax-Exempt Money
 Market 96,725.4 95,276.6R 92,277.9
 Total 1,589,698.7 1,558,514.9R 1,313,580.8
 LIQUID ASSET RATIO
 (Equity Funds)
 November 1992 October 1992 November 1991
 Liquid Asset Ratio 9.4 pct. 9.2 pct.R 9.3 pct.
 FUNDS INCLUDED IN THIS REPORT
 November 1992 October 1992 November 1991
 Total Long Term
 (Stock and Bond) 2,929 2,886 2,575
 Taxable Money
 Market 581 576 540
 Tax-Exempt Money
 Market 278 275 262
 Total 3,788 3,737 3,377
 -0- 12/30/92 R
 /CONTACT: Betty Hart, 202-955-3532, or John Collins, 202-955-3535, both of the Investment Company Institute/


CO: Investment Company Institute ST: District of Columbia IN: FIN SU: ECO

TW -- DC007 -- 0872 12/31/92 11:14 EST
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Date:Dec 31, 1992
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