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MONEY SMALL INVESTOR INDEX: RUSSIAN TURMOIL RATTLES SMALL INVESTORS

 /ADVANCE/ NEW YORK, Sept. 26 /PRNewswire/ -- As the confrontation between Boris Yeltsin and the Russian Parliament escalated last week, small investors bailed out of mutual funds holding international stocks, according to data gathered for Money magazine's Small Investor Index.
 Fears that the turmoil in the Russian capital might spread throughout the former Soviet Union caused stock markets to fall sharply throughout Europe and Asia last week. The average international stock mutual fund dropped one percent, according to Lipper Analytical Services.
 Alarmed, small investors quickly lost what had been a growing appetite for international funds. For example, shareholders of $241 million Invesco Strategic European Portfolio withdrew $9 million last week after having added $60 million in the previous six weeks. The $613 million Scudder Japan fund, which had received $20 million in fresh cash from investors since Aug. 1, was hit with $5 million in redemptions. And the $164 million G.T. Emerging Markets Fund had to return $10 million to fleeing shareholders, thus reversing an inflow of $7 million over the previous six weeks.
 International investment strategists caution that there is no reason to panic. "Many stocks throughout Europe and Asia fell sharply, even though the trouble in Russia has no effect on their business prospects," says Vivian Lewis, editor of the newsletter Global Investing. "If Yeltsin prevails, stocks will rebound and this episode will have provided an opportunity to buy high-quality stocks and international mutual funds at bargain prices."
 Last week, the Money Small Investor Index, which tracks the typical individual's holdings, rose $35 to $47,771. Stocks gained $31, while bonds lost $12. CDs and money funds added $9, and gold rose $7.
 This Last Year % Change from a
 Week Week Ago Week Ago Year Ago
 106.50 106.42 97.03 +0.07% +9.76%
 Latest Changes for Each Asset
 % Change from a
 Category Index Week Ago Year Ago
 Stocks:
 NYSE 107.23 -0.35% +12.49%
 ASE/OTC 111.12 +1.68 +28.39
 Equity funds 109.71 +0.31 +16.44
 Bonds:
 Taxable bonds 109.62 -0.10 +10.38
 Municipals 110.69 +0.01 +13.57
 Bond funds 109.07 -0.21 +9.50
 Cash:
 CDs 102.59 +0.06 +3.59
 Money funds 101.81 +0.05 +2.53
 Other:
 Real estate 98.55 -0.07 -0.96
 Gold 141.91 +2.16 +29.58
 Jan. 1, 1993 equals 100
 Where Average Small Investors Have Their Money Now
 Current Year Ago Current Year Ago
 NYSE 21.21% 21.55% Bond funds 7.67% 6.64%
 ASE/OTC 6.70 6.81 CDs 13.12 15.57
 Equity funds 8.04 5.99 Money funds 24.71 24.49
 Taxable bonds 9.71 9.85 Real estate 0.91 0.80
 Municipals 7.26 7.77 Gold 0.67 0.52
 -0- 9/27/93
 /NOTE TO EDITORS: This material is also available in printable form from AP GraphicsNet and Access services for graphics and tables (under the file name MoneyIndex) and from PR Newswire for full text./
 /CONTACT: Jordan Goodman of MONEY, 212-522-3618, or Patti Straus of MONEY public relations, 212-522-2695/


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GK -- NY055 -- 5477 09/24/93 14:26 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
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