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JUNE MUTUAL FUND SALES TOTAL $40.7 BILLION

 WASHINGTON, July 29 /PRNewswire/ -- Sales of stock and bond and income mutual funds totaled $40.7 billion in June, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $36.9 billion in May and $28.3 billion in June 1992.
 Sales of stock mutual funds totaled $17.9 billion in June, compared to $15.5 billion in May and $10.3 billion in June 1992. Growth and income funds, with sales of $6.5 billion, led all fund categories.
 June sales of bond and income mutual funds totaled $22.8 billion, compared with $21.4 billion in May and $18.1 billion in June 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 $36.9 billion in June, compared with $34.8 billion in May and $25.6 billion in June 1992.
 New sales of stock funds were $16.5 billion, compared with $15.2 billion in May and $9.4 billion in June 1992. New sales of bond and income funds were $20.4 billion, compared with $19.7 billion in May and $16.2 billion in June 1992.
 REDEMPTIONS
 Total redemptions (liquidation of shares by fund shareholders) were $18.4 billion in June, compared with $15.9 billion in May and $12.9 billion in June 1992. Stock fund redemptions were $7.7 billion in June, compared with $6.6 billion in May and $4.9 billion in June 1992. Bond and income fund redemptions were $10.7 billion in June, compared with $9.3 billion in May and $8.0 billion in June 1992.
 NET SALES
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including stock and bond and income categories, were $22.2 billion in June, compared with $21.0 billion in May and $15.4 billion in June 1992. Net sales of stock funds were $10.2 billion in June, compared with $9.0 billion in May and $5.4 billion in June 1992. Net sales of bond and income funds were $12.1 billion in June compared with $12.0 billion in May, and $10.0 billion in June 1992.
 NET NEW SALES
 Net new sales (sales excluding reinvested dividends less redemptions) were $18.4 billion in June, compared with $18.9 billion in
May and $12.7 billion in June 1992. Net new sales of stock funds in


June were $8.8 billion, compared with $8.6 billion in May and $4.5 billion in June 1992. June net new sales of bond and income funds were $9.7 billion, compared with $10.3 billion in May and $8.2 billion June 1992.
 NET EXCHANGES
 Net exchanges of stock funds totaled $437.8 million, compared with $399.5 million in May and $207.7 million in June 1992. Bond fund net exchanges were $842.3 million, compared with a negative $180.9 million in May and $827.6 million in June 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 $23.5 billion in June, compared with $21.2 billion in May and $16.4 billion in June 1992. Net cash flow into stock funds was $10.6 billion in June, compared with $9.4 billion in May and $5.6 billion in June 1992. Net cash flow into bond and income funds was $12.9 billion in June compared with $11.8 in May and $10.8 billion in June 1992.
 NET NEW CASH FLOW
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $19.7 billion, compared with $19.2 billion in May and $13.7 billion in June 1992. Net new cash flow into stock funds was $9.2 billion in June, compared with $9.0 billion in May and $4.7 billion in June 1992. Net new cash flow into bond and income funds was $10.5 billion, compared with $10.1 billion in May and $9.0 billion in 1992.
 ASSETS
 Assets of all mutual funds totaled $1.803 trillion ($1,803.4 billion) at the end of June, compared with $1.787 trillion ($1,787.3 billion) at the end of May. Total assets at the end of June 1992 were $1.468 trillion ($1,468.1 billion). Total assets of long-term funds for June reached $1.253 trillion ($1,253.5 billion), compared with $1.220 trillion ($1,219.9 billion) in May and $911.2 billion for June 1992.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) declined to $549.9 billion at the end of June, from $567.5 billion at the end of May. Assets of these short-term funds were $556.9 billion at the end of June 1992.
 TOTAL ASSETS OF FUNDS (millions of dollars)
 June 1993 May 1993 June 1992
 Stock $580,383.9 $567,903.1R $403,509.5
 Bond & Income 673,092.4 651,960.0R 507,701.8R
 Taxable Money Market 452,862.2 469,741.1R 463,978.5R
 Tax-Exempt Money Market 97,037.3 97,741.2 92,959.7
 Total 1,803,375.8 1,787,345.4R 1,468,149.5R
 LIQUID ASSET RATIO (Equity Funds)
 June 1993 May 1993 June 1992
 Liquid Asset Ratio 9.1 pct. 9.2 pct. 9.6 pct.
 FUNDS INCLUDED IN THIS REPORT
 June 1993 May 1993 June 1992
 Total Long Term 3,336 3,275R 2,715R
 (Stock and Bond)
 Taxable Money Market 604 596R 566
 Tax-Exempt Money Market 284 281 276
 Total 4,224 4,152R 3,557R
 -0- 7/29/93
 /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:

DC-TW -- DC006 -- 7413 07/29/93 10:42 EDT
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Date:Jul 29, 1993
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