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DECEMBER MUTUAL FUND SALES TOTAL $28.2 BILLION

 DECEMBER MUTUAL FUND SALES TOTAL $28.2 BILLION
 WASHINGTON, Jan. 29 /PRNewswire/ -- Sales of stock and bond and


income mutual funds totaled $28.2 billion in December, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $22.7 billion in November and $14.5 billion in December a year ago.
 Total sales during 1991 reached $234.5 billion, compared with $149.5 billion during 1990.
 Assets of all mutual funds reached a record $1.347 trillion ($1,346.7 billion) in December compared with $1.314 trillion ($1,313.6 billion) in November. Total assets in December 1990 were $1.067 trillion ($1,066.9 billion). "The large increase in assets during December of long-term funds resulted from a combination of sharply rising prices in stock and bond markets and a substantial flow of monies out of short and into long-term funds," said Dr. Jacob S. Dreyer, vice president and chief economist at the institute.
 "Equity Funds were stellar performers," Dreyer said. "Their portfolios appreciated by over $24 billion and, in addition, they attracted over $11 billion in new assets. The value of bond portfolios rose by almost $10 billion and the inflow of new money came close to $7 billion. The December decline in short-term assets, which is typical at year-end, was more than offset by flows into those funds in early January."
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) fell to $539.6 billion in December from $560.8 billion in November. Assets of these short-term funds were $498.4 billion in December 1990.
 Sales of stock mutual funds totaled $12.9 billion in December, compared with $9.2 billion in November and $7.2 billion December a year ago. Growth and income funds, with sales of $4.3 billion, led all fund categories.
 December sales of bond and income mutual funds totaled $15.2 billion, compared with $13.5 billion in November and $7.3 billion in December 1990.
 Total redemptions were $13.3 billion in December, compared with $10.8 billion in November and $8.5 billion in December 1990. Stock fund redemptions were $4.1 billion in December, compared with $5.0 billion in November and $3.6 billion in December 1990. Bond and income fund redemptions were $9.2 billion in December, compared with $5.8 billion in November and $4.9 billion in December 1990.
 Total net sales of long-term funds, including both stock and bond and income categories, were $14.9 billion in November, compared with $11.8 billion in November and $6.0 billion in December 1990. Net sales of stock funds were $8.8 billion in December, compared with $4.2 billion in November and $3.6 billion in December 1990. Net sales of bond and income funds totaled $6.1 billion in December, compared with $7.6 billion in November and $2.4 billion in December 1990.
 Exchanges into stock funds were $6.5 billion; exchanges out of stock funds were $4.2 billion. Exchanges into bond funds were $4.0 billion; exchanges out of bond funds were also $3.2 billion. Exchanges are investments redeemed from one fund and moved to another fund in the same fund group or complex.
 Net cash flow (net sales combined with net exchanges) into long- term funds was $18.0 billion in December compared with $11.3 billion in November and $5.4 billion in December 1990. Net cash flow into stock funds was $11.1 billion in December, compared with $3.7 billion in November and $3.2 billion in December 1990. Net cash flow into bond and income funds was $6.8 billion compared with $7.7 billion in November and $2.2 billion in December 1990.
 Total underwritings of closed-end funds in December were $640.8 million, compared with $2.27 billion in November and none in December 1990.
 SUPPLEMENT
 Mutual Fund Statistics Data for December 1991
 (Millions of Dollars)
 YTD YTD
 12/91 11/91 12/90 12/91 12/90
 Total Sales $28,184.1 $22,677.9R 14,544.8R 234,454.4 149,512.5
 Aggr. Growth 2,504.2 1,612.3R 948.1R 16,757.6 9,372.3
 Growth 3,881.2 2,654.0R 2,016.5R 26,530.2 17,631.3
 Growth/Income 4,343.1 3,364.4 2,791.8R 35,534.9 25,602.4
 Prec. Metals 99.2 97.4 81.7R 1,598.9 1,175.6
 International 769.0 616.9 534.6R 6,692.7 7,865.2
 Global-Equity 495.7 195.4 229.1 2,784.5 3,323.5
 Income-Equity 832.3 638.8 619.7R 6,891.3 5,974.8
 Option/Income 15.1 24.3 9.1 164.2 251.3
 Flexible Port. 375.0 196.6 163.5R 1,955.3 1,389.4
 Balanced 779.9 482.8 501.1R 5,277.5 3,058.0
 Income Mixed 1,539.1 1,602.9R 595.3 11,911.3 5,709.0
 Income-Bond 1,257.0 1,039.7 545.8 10,390.8 7,288.0
 Government 3,847.5 3,480.7R 1,140.5R 27,811.6 12,067.9
 GNMA(GinnieMae) 1,354.7 1,137.3R 531.1R 13,798.3 5,560.9
 Global-Bond 1,358.3 1,341.2R 884.8R 15,537.7 6,702.6
 Corporate Bond 502.2 465.7R 289.9R 5,125.8 2,916.7
 High Yield Bond 604.7 536.6 334.3R 6,080.1 5,147.2
 Long-Term
 Municipal Bond 2,024.9 1,734.0R 1,318.4R 21,084.8 15,507.2
 Single-State
 Municipal Bond 1,600.9 1,456.9R 1,009.4R 18,526.9 12,969.2
 12/91 11/91 12/90
 Purchases of Common Stocks $ 23,631.0 $ 21,036.4R $ 12,774.9
 Sales of Common Stocks 18,039.3 18,710.6R 9,782.0
 Purchases of Other
 Securities 45,096.1 53,052.0R 37,369.2
 Sales of Other Securities 37,211.9 43,681.2R 32,801.3
 Holdings of Cash and
 Short-Term Securities $ 60,986.7 $ 59,688.8R $ 48,638.3
 Liquid Asset Ratio 8.4 pct. 9.3 pct. 11.5 pct.
 (Stock funds only)
 Total Assets of Funds 1,346,594.7 $1,313,635.7 $1,066,891.8
 Money Market - Taxable 449,697.8 468,560.1R 414,733.3
 Money Market - Tax-exempt 89,895.8 92,277.9 83,641.6
 Stock Funds 366,186.3 328,871.7 245,788.2
 Bond and Income Funds 440.814.8 423,926.0R 322,728.7R
 -0- 1/29/92
 /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 -- DC026 -- 4831 01/29/92 14:50 EST
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Date:Jan 29, 1992
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