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FEBRUARY MUTUAL FUND SALES TOTAL $35.5 BILLION

 WASHINGTON, March 29 /PRNewswire/ -- Sales of stock and bond and income mutual funds totaled $35.5 billion in February, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $36.9 billion in January and $27.8 billion in February 1992.
 Sales of stock mutual funds totaled $14.6 billion in February, compared with $15.4 billion in January and $11.4 billion in February 1992. Growth and income funds, with sales of $4.9 billion, led all fund categories.
 February sales of bond and income mutual funds totaled $20.8 billion, compared with $21.4 billion in January and $16.5 billion in February 1992. Long-term municipal bond funds (multi-state) led bond and income fund categories, with sales of $3.6 billion. Single state municipal bond funds brought in $2.9 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 $33.7 billion in February, compared with $34.8 billion in January and $26.2 billion February 1992.
 New sales of stock funds were $14.5 billion, compared with $15.1 billion in January and $11.2 billion in February 1992. New sales of bond and income funds reached $19.2 billion, compared with $19.6 billion in January and $15.0 billion in February 1992.
 REDEMPTIONS
 Total redemptions (liquidation of shares by fund shareholders) were $15.2 billion in February, compared with $16.1 billion in January and $11.6 billion in February 1992. Stock fund redemptions were $6.4 billion in February, compared with $6.4 billion in January and $4.8 billion in February 1992. Bond and income fund redemptions were $9.2 billion in February, compared with $9.7 billion in January and $6.8 billion in February 1992.
 NET SALES
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including stock and bond and income categories, were $20.3 billion in February, compared with $20.8 billion in January and $16.2 billion in February 1992. Net sales of stock funds were $8.6 billion in February, compared with $9.0 billion in January and $6.6 billion in February 1992. Net sales of bond and income funds were $11.7 billion in both February and January, and $9.7 billion in February 1992.
 NET NEW SALES
 Net new sales (sales excluding reinvested dividends less redemptions) were $18.5 billion in February, compared with $18.7 billion in January and $14.6 billion in February 1992.
 Net new sales of stock funds in February were $8.5 billion, compared with $8.7 billion in January and $6.4 billion in February 1992. February net new sales of bond and income funds were $10.0 billion, compared with $9.9 billion in January and $8.2 billion February 1992.
 NET EXCHANGES
 Net exchanges of stock funds totaled $162.2 million, compared with $1.5 billion in January and $1.1 billion in February 1992. Bond fund net exchanges totaled $723.8 million, compared with $765.6 million in January and $67.9 million in February 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 $21.2 billion in February, compared with $23.0 billion in January and $17.3 billion in February 1992. Net cash flow into stock funds was $8.8 billion in February, compared with $10.5 billion in January and $7.6 billion in February 1992. Net cash flow into bond and income funds was $12.4 billion in February, compared with $12.5 billion in January and $9.7 billion in February 1992.
 NET NEW CASH FLOW
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $19.4 billion, compared with $20.9 billion in January and $15.7 billion in February 1992. Net new cash flow into stock funds was $8.7 billion in February, compared with $10.2 billion in January and $7.5 billion in February 1992. Net new cash flow into bond and income funds was $10.7 billion, compared with $10.7 billion in January and $8.3 billion in 1992.
 ASSETS
 Assets of all mutual funds totaled $1.695 trillion ($1,695.2 billion) at the end of February, compared with $1.660 trillion ($1,660.2 billion) at the end of January. Total assets at the end of February 1992 were $1.439 trillion ($1,438.7 billion). Total assets of long-term funds for February reached $1.117 trillion ($1,116.7 billion), compared with $1.083 trillion ($1,082.7 billion) in January and $847.2 billion for February 1992.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) increased to $578.6 billion at the end of February, from $577.5 billion at the end of January. Assets of these short-term funds were $591.6 billion at the end of February 1992.
 TOTAL ASSETS OF FUNDS (millions of dollars)
 February 1993 January 1992 February 1992
 Stock $502,812.0 $492,486.8R $387,076.4
 Bond & Income 613,839.6 590,166.2R 460,107.1R
 Taxable Money Market 478,748.7 478,886.8R 493,849.0R
 Tax-Exempt
 Money Market 99,842.6 98,642.6R 97,701.7
 1,695,242.9 1,660,182.4R 1,438,734.2R
 LIQUID ASSET RATIO (Equity Funds)
 February 1993 January 1992 February 1992
 Liquid Asset Ratio 9.5 pct. 8.9 pct.R 8.0 pct.
 FUNDS INCLUDED IN THIS REPORT
 February 1993 January 1992 February 1992
 Total Long Term 3,080 2,999R 2,653
 (Stock and Bond)
 Taxable Money Market 588 584 561
 Tax-Exempt Money Market 279 278 267
 Total 3,947 3,861R 3,481
 -0- 3/29/93
 /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:

IH-MH -- DC034 -- 0637 03/29/93 15:37 EST
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