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JUNE MUTUAL FUND SALES TOTAL $29.0 BILLION

 JUNE MUTUAL FUND SALES TOTAL $29.0 BILLION
 WASHINGTON, July 30 /PRNewswire/ -- Sales of stock and bond and


income mutual funds totaled $29.0 billion in June, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $27.0 billion in May and $17.0 billion in June 1991.
 Sales of stock mutual funds totaled $10.9 billion in June, compared with $10.5 billion in May and $7.0 billion in June 1991. Growth and income funds, with sales of $3.9 billion, led all fund categories.
 June sales of bond and income mutual funds totaled $18.0 billion, compared with $16.5 billion in May and $10.0 billion in June 1991.
 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 $26.3 billion in June, compared with $25.0 billion in May and $14.9 billion June a year ago.
 New sales of stock funds were $10.0 billion compared with $10.2 billion in May and $6.3 billion in June 1991. New sales of bond and income funds, reached $16.2 billion, compared with $14.8 billion in May and $8.6 billion in June a year ago.
 Redemptions
 Total redemptions (liquidation of shares by fund shareholders) were $13.0 billion in June, compared with $11.4 billion in May and $8.8 billion in June 1991. Stock fund redemptions were $4.9 billion in June, compared with $4.6 billion in May and $4.2 billion in June 1991. Bond and income fund redemptions were $8.0 billion in June, compared with $6.8 billion in May and $4.5 billion in June 1991.
 Net Sales
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including both stock and bond and income categories, were $16.0 billion in June, compared with $15.6 billion in May and $8.2 billion in June 1991. Net sales of stock funds were $6.0 billion in June, compared with $5.9 billion in May. Net sales were $2.8 billion in June 1991. Net sales of bond and income funds totaled $10.0 billion in June, compared with $9.7 billion in May and $5.5 billion in June 1991.
 Net New Sales
 Net new sales (sales excluding reinvested dividends less redemptions) were $13.3 billion in June, compared with $13.7 billion in May and $6.2 billion in June 1991.
 Net new sales of stock funds in June were $5.1 billion, compared with $5.7 billion in May and $2.1 billion in June a year ago. June net new sales of bond and income funds were $8.2 billion, compared with $8.0 billion in May and $4.1 billion a year ago June.
 Net Exchanges
 Net exchanges of stock funds totaled $170.7 million, compared with $899.1 million in May and -$1.1 billion in June 1991. Bond fund net exchanges totaled $826.1 million, compared with $736.2 million in May, and $320.8 million in June 1991. 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 $17.0 billion in June, compared with $17.2 billion in May and $7.4 billion in June 1991. Net cash flow into stock funds was $6.2 billion in June, compared with $6.8 billion in May and $1.6 billion in June 1991. Net cash flow into bond and income funds was $10.8 billion, compared with $10.4 billion in May and $5.8 billion in June 1991.
 Net New Cash Flow
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $14.3 billion, compared with $15.3 billion in May and $5.4 billion in June 1991. Net new cash flow into stock funds was $5.3 billion in June, compared with $6.6 billion in May and $931.7 million in June 1991. Net new cash flow into bond and income funds was $9.0 billion, compared with $8.7 billion in May and $4.4 billion in June a year ago.
 Assets
 Assets of all mutual funds totaled $1.466 trillion ($1,465.6 billion) in June, compared with $1.474 trillion ($1,473.7 billion) in May. Total assets in June 1991 were $1.196 trillion ($1,196.3 billion). Total assets of long-term funds for June were $908.4 billion, compared with $897.2 billion in May and $663.6 billion in June 1991.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) fell to $557.2 billion in June, compared with $576.4 billion in May. Assets of these short-term funds were $532.7 billion in June 1991.
 Total Assets of Funds
 June 1992 May 1992 June 1991
 Equity $403,388.8 $406,397.8R $297,815.0R
 Bond & Income 505,027.5 490,813.6R 365,780.0R
 Taxable Money
 Market 463,981.6 480,956.6 445,465.1R
 Tax-Exempt
 Money Market 93,170.2 95,487.5 87,258.8R
 Total 1,465,568.1 1,473,655.5R 1,196,318.9R
 Liquid Asset Ratio (Equity Funds)
 June 1992 May 1992 June 1991
 Liquid Asset Ratio 9.6 pct. 9.0 pct. 9.0 pct.
 Funds Included in This Report
 June 1992 May 1992 June 1991
 Total Long Term
 (Stock and Bond) 2,723 2,715R 2,506R
 Taxable Money Market 566 570 534
 Tax-Exempt Money Market 276 276 254
 Total 3,565 3,561 3,294
 Closed-End Underwritings
 Total underwritings of closed-end funds reported in June were $1.6 billion. There were no underwritings reported for May nor for June 1991.
 -0- 7/30/92
 /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 -- DC007 -- 5052 07/30/92 11:33 EDT
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