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ICI: SEPTEMBER MUTUAL FUND SALES TOTAL $43.3 BILLION

 WASHINGTON, Oct. 28 /PRNewswire/ -- Sales of stock and bond and income mutual funds totaled $43.3 billion in September, according to the Investment Company Institute (ICI), the national association of the mutual fund industry. This compares with total sales of $45.6 billion in August and $29.4 billion in September 1992.
 Sales of stock mutual funds totaled $18.7 billion in September, compared to $19.4 billion in August and $10.1 billion in September 1992. Growth and income funds, with sales of $5.5 billion, led all fund categories.
 September sales of bond and income mutual funds totaled $24.6 billion, compared with $26.2 billion in August and $19.3 billion in September 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 $39.8 billion in September, compared with $43.4 billion in August and $26.6 billion in September 1992.
 New sales of stock funds were $17.6 billion, compared with $19.1 billion in August and $9.3 billion in September 1992. New sales of bond and income funds were $22.2 billion, compared with $24.3 billion in August and $17.3 billion in September 1992.
 REDEMPTIONS
 Total redemptions (liquidation of shares by fund shareholders) were $20.8 billion in September compared to $19.8 billion in August and $14.5 billion in September 1992. Stock fund redemptions were $8.1 billion in September, compared with $8.0 billion in August and $4.9 billion in September 1992. Bond and income fund redemptions were $12.7 billion in September, compared with $11.8 billion in August and $9.6 billion in September 1992.
 NET SALES
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including stock and bond and income categories, were $22.5 billion in September, compared with $25.8 billion in August and $14.9 billion in September 1992. Net sales of stock funds were $10.7 billion in September, compared with $11.4 billion in August and $5.3 billion in September 1992. Net sales of bond and income funds were $11.8 billion in September compared with $14.3 billion in August, and $9.6 billion in September 1992.
 NET NEW SALES
 Net new sales (sales excluding reinvested dividends less redemptions) were $19.0 billion in September, compared with $23.6 billion in August and $12.2 billion in September 1992. Net new sales of stock funds in September were $9.5 billion, compared with $11.2 billion in August and $4.4 billion in September 1992. September net new sales of bond and income funds were $9.5 billion, compared with $12.5 billion in August and $7.7 billion September 1992.
 NET EXCHANGES
 Net exchanges of stock funds totaled a negative $466.9 million, compared with $909.1 million in August and a negative $58.8 million in September 1992. Bond fund net exchanges were a negative $2.3 billion, compared with $196.0 million in August and $363.7 million in September 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 $19.7 billion in September, compared with $26.9 billion in August and $15.0 billion in September 1992. Net cash flow into stock funds was $10.2 billion in September, compared with $12.3 billion in August and $5.1 billion in September 1992. Net cash flow into bond and income funds was $9.6 billion in September compared with $14.5 billion in August and $10.0 billion in September 1992.
 NET NEW CASH FLOW
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $16.2 billion, compared with $24.7 billion in August and $12.5 billion in September 1992. Net new cash flow into stock funds was $9.0 billion in September, compared with $12.1 billion in August and $4.4 billion in September 1992. Net new cash flow into bond and income funds was $7.2 billion in September, compared with $12.7 billion in August and $8.1 billion in September 1992.
 ASSETS
 Assets of all mutual funds totaled $1.913 trillion ($1,913.2 billion) at the end of September, compared with $1.903 trillion ($1,903.3 billion) at the end of August. Total assets at the end of September 1992 were $1.532 trillion ($1,532.0 billion). Total assets of long-term funds for September reached $1.365 trillion ($1,365.3 billion), compared with $1.344 trillion ($1,343.9 billion) in August and $977.9 billion for September 1992.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) fell to $547.8 billion at the end of September, from $559.4 billion at the end of August. Assets of these short-term funds were $554.1 billion at the end of September 1992.
 TOTAL ASSETS OF FUNDS (millions of dollars)
 September 1993 August 1993 September 1992
 Stock $631,971.2 $619,729.9R $423,503.9R
 Bond & Income 733,371.2 724,190.5R 554,388.8R
 Taxable Money Market 448,447.0 459,151.8R 462,817.3
 Tax-Exempt Money Market 99,376.6 100,272.5R 91,260.3
 Total 1,913,166.0 1,903,344.7R 1,531,970.3R
 LIQUID ASSET RATIO (Equity Funds)
 September 1993 August 1993 September 1992
 Liquid Asset Ratio 8.6 pct. 8.8 pct. 9.2 pct.
 FUNDS INCLUDED IN THIS REPORT
 September 1993 August 1993 September 1992
 Total Long Term 3,448 3,418R 2,808
 (Stock and Bond)
 Taxable Money Market 614 615 575R
 Tax-Exempt Money Market 285 286R 277
 Total 4,347 4,319R 3,660R
 -0- 10/28/93
 /CONTACT: Betty Hart, 202-955-3532, or Malin Jennings, 202-955-8415, both of the Investment Company Institute/


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

DC-IH -- DC023 -- 8008 10/28/93 14:07 EDT
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Date:Oct 28, 1993
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