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JULY MUTUAL FUND SALES TOTAL $43.8 BILLION

 WASHINGTON, Aug. 30 /PRNewswire/ -- Sales of stock and bond and income mutual funds totaled $43.8 billion in July, according to the Investment Company Institute (ICI), the national association of the mutual fund industry. This compares with total sales of $40.7 billion in June and $31.8 billion in July 1992.
 Sales of stock mutual funds totaled $18.0 billion in July, compared to $17.8 billion in June and $11.0 billion in July 1992. Growth and income funds, with sales of $5.3 billion, led all fund categories.
 July sales of bond and income mutual funds totaled $25.8 billion, compared with $22.9 billion in June and $20.8 billion in July 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 $41.4 billion in July, compared with $36.9 billion in June and $29.8 billion in July 1992.
 New sales of stock funds were $17.5 billion, compared with $16.4 billion in June and $10.6 billion in July 1992. New sales of bond and income funds were $23.9 billion, compared with $20.5 billion in June and $19.2 billion in July 1992.
 REDEMPTIONS
 Total redemptions (liquidation of shares by fund shareholders) were $18.3 billion in both July and June and $12.9 billion in July 1992. Stock fund redemptions were $7.9 billion in July, compared with $7.6 billion in June and $4.8 billion in July 1992. Bond and income fund redemptions were $10.5 billion in July, compared with $10.7 billion in June and $8.1 billion in July 1992.
 NET SALES
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including stock and bond and income categories, were $25.5 billion in July, compared with $22.4 billion in June and $18.9 billion in July 1992. Net sales of stock funds were $10.1 billion in July, compared with $10.2 billion in June and $6.2 billion in July 1992. Net sales of bond and income funds were $15.4 billion in July compared with $12.2 billion in June, and $12.8 billion in July 1992.
 NET NEW SALES
 Net new sales (sales excluding reinvested dividends less redemptions) were $23.0 billion in July, compared with $18.5 billion in June and $16.9 billion in July 1992. Net new sales of stock funds in July were $9.6 billion, compared with $8.8 billion in June and $5.8 billion in July 1992. July net new sales of bond and income funds were $13.4 billion, compared with $9.7 billion in June and $11.1 billion July 1992.
 NET EXCHANGES
 Net exchanges of stock funds totaled $103.5 million, compared with $448.8 million in June and $811.2 million in July 1992. Bond fund net exchanges were a negative $463.8 million, compared with $849.9 million in June and $710.6 million in July 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 $25.1 billion in July, compared with $23.7 billion in June and $20.4 billion in July 1992. Net cash flow into stock funds was $10.2 billion in July, compared with $10.6 billion in June and $7.0 billion in July 1992. Net cash flow into bond and income funds was $14.9 billion in July compared with $13.0 in June and $13.5 billion in July 1992.
 NET NEW CASH FLOW
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $22.7 billion, compared with $19.8 billion in June and $18.4 billion in July 1992. Net new cash flow into stock funds was $9.7 billion in July, compared with $9.2 billion in June and $6.6 billion in July 1992. Net new cash flow into bond and income funds was $13.0 billion, compared with $10.6 billion in June and $11.8 billion in 1992.
 ASSETS
 Assets of all mutual funds totaled $1.847 trillion ($1,847.3 billion) at the end of July, compared with $1.805 trillion ($1,805.2 billion) at the end of June. Total assets at the end of July 1992 were $1.537 trillion ($1,536.8 billion). Total assets of long-term funds for July reached $1.285 trillion ($1,285.4 billion), compared with $1.255 trillion ($1,255.3 billion) in June and $951.6 billion for July 1992.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) rose to $561.9 billion at the end of July, from $549.8 billion at the end of June. Assets of these short-term funds were $585.1 billion at the end of July 1992.
 TOTAL ASSETS OF FUNDS
 (millions of dollars)
 July 1993 June 1993 July 1992
 Stock $595,030.3 $581,638.5R $421,388.5R
 Bond & Income 690,397.8 673,738.6R 530,237.6R
 Taxable Money Market 462,679.2 452,857.0R 490,731.2
 Tax-Exempt Money Market 99,235.7 96,970.6R 94,393.4
 Total 1,847,343.0 1,805,204.7R 1,536,750.7R
 LIQUID ASSET RATIO
 (Equity Funds)
 July 1993 June 1993 July 1992
 Liquid Asset Ratio 9.3 pct. 9.1 pct. 9.5 pct.
 FUNDS INCLUDED IN THIS REPORT
 July 1993 June 1993 July 1992
 Total Long Term
 (Stock and Bond) 3,395 3,336 2,740R
 Taxable Money Market 615 603R 567
 Tax-Exempt Money Market 285 283R 277
 Total 4,295 4,222R 3,584R
 -0- 8/30/93
 /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:

MH-DC -- DC019 -- 7070 08/30/93 12:06 EDT
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Date:Aug 30, 1993
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