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AUGUST MUTUAL FUND SALES TOTAL $45.9 BILLION

 WASHINGTON, Sept. 29 /PRNewswire/ -- Sales of stock and bond and income mutual funds totaled $45.9 billion in August, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $43.6 billion in July and $29.8 billion in August 1992.
 Sales of stock mutual funds totaled $19.4 billion in August, compared to $18.0 billion in July and $9.5 billion in August 1992. Growth and income funds, with sales of $5.3 billion, led all fund categories.
 August sales of bond and income mutual funds totaled $26.4 billion, compared with $25.6 billion in July and $20.3 billion in August 1992.
 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, nor does it account for redemptions of shares.
 NEW SALES
 New sales (which exclude reinvested dividends) totaled $43.7 billion in August, compared with $41.2 billion in July and $28.0 billion in August 1992.
 New sales of stock funds were $19.1 billion, compared with $17.5 billion in July and $9.3 billion in August 1992. New sales of bond and income funds were $24.6 billion, compared with $23.7 billion in July and $18.7 billion in August 1992.
 REDEMPTIONS
 Total redemptions (liquidation of shares by fund shareholders) were $20.0 billion in August compared to $18.1 billion in July and $14.2 billion in August 1992. Stock fund redemptions were $8.0 billion in August, compared with $7.9 billion in July and $5.2 billion in August 1992. Bond and income fund redemptions were $12.0 billion in August, compared with $10.2 billion in July and $9.0 billion in August 1992.
 NET SALES
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including stock and bond and income categories, were $25.9 billion in August, compared with $25.6 billion in July and $15.6 billion in August 1992. Net sales of stock funds were $11.4 billion in August, compared with $10.1 billion in July and $4.3 billion in August 1992. Net sales of bond and income funds were $14.4 billion in August compared with $15.4 billion in July, and $11.3 billion in August 1992.
 NET NEW SALES
 Net new sales (sales excluding reinvested dividends less redemptions) were $23.7 billion in August, compared with $23.1 billion in July and $13.8 billion in August 1992. Net new sales of stock funds in August were $11.2 billion, compared with $9.6 billion in July and $4.1 billion in August 1992. August net new sales of bond and income funds were $12.5 billion, compared t?h $13.5 billion in July and $9.7 billion August 1992.
 NET EXCHANGES
 Net exchanges of stock funds totaled $909.1 million, compared with $120.7 million in July and a negative $592.0 million in August 1992. Bond fund net exchanges were $196.0 million, compared with a negative $381.5 million in July and a negative $360.6 million in August 1992. 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 $27.0 billion in August, compared with $25.3 bi?on in July and $14.6 billion in August 1992. Net cash flow into stock funds was $12.3 billion in August, compared with $10.2 billion in July and $3.7 billion in August 1992. Net cash flow into bond and income funds was $14.6 billion in August compared with $15.1 in July and $10.9 billion in August 1992.
 NET NEW CASH FLOW
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $24.8 billion, compared with $22.8 billion in July and $12.8 billion in August 1992. Net new cash flow into stock funds was $12.1 billion in August, compared with $9.7 billion in July and $3.5 billion in August 1992. Net new cash flow into bond and income funds was $12.7 billion, compared with $13.1 billion in July and $9.3 billion in 1992.
 ASSETS
 Assets of all mutual funds totaled $1.930 trillion ($1,929.8 billion) at the end of August, compared with $1.847 trillion ($1,847.4 billion) at the end of July. Total assets at the end of August 1992 were $1.538 trillion ($1,538.3 billion). Total assets of long-term funds for August reached $1.344 trillion ($1,344.3 billion), compared with $1.285 trillion ($1,284.8 billion) in July and $957.1 billion for August 1992.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) rose to $585.5 billion at the end of August, from $562.6 billion at the end of July. Assets of these short-term funds were $581.2 billion at the end of August 1992.
 TOTAL ASSETS OF FUNDS (millions of dollars)
 August 1993 July 1993 August 1992
 Stock $619,680.3 $595,059.4R $416,113.2R
 Bond & Income 724,580.2 689,782.6R 541,023.5R
 Taxable Money Market 485,391.7 463,167.3R 486,033.5
 Tax-Exempt Money Market 100,100.0 99,398.6R 95,153.1
 Total 1,929,752.2 1,847,407.9R 1,538,323.3R
 (Note: As the result of annual reclassification of certain funds, approximately $11 billion in assets was shifted from equity to the bond and income category as of August.)
 LIQUID ASSET RATIO (Equity Funds)
 August 1993 July 1993 August 1992
 Liquid Asset Ratio 8.8 pct. 9.3 pct. 9.9 pct.
 FUNDS INCLUDED IN THIS REPORT
 August 1993 July 1993 August 1992
 Total Long Term
 (Stock and Bond) 3,420 3,391R 2,765
 Taxable Money Market 615 617R 566
 Tax-Exempt Money Market 285 287R 278
 Total 4,320 4,295R 3,609
 -0- 9/29/93
 /CONTACT: Betty Hart, 202-955-3532, or Erick Kanter, 202-955-3530, both of the Investment Company Institute/


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

MH-DC -- DC031 -- 6815 09/29/93 12:12 EDT
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Date:Sep 29, 1993
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