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NOVEMBER MUTUAL FUND SALES TOTAL $42.1 BILLION, INVESTMENT COMPANY INSTITUTE REPORTS

 WASHINGTON, Dec. 30 /PRNewswire/ -- The Investment Company Institute (ICI) released the following information on November mutual funds:
 TOTAL SALES OF LONG-TERM FUNDS
 Sales of stock and bond and income mutual funds totaled $42.1 billion in November, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $45.5 billion in October and $28.7 billion in November 1992.
 Sales of stock mutual funds totaled $19.3 billion in November, compared to $20.9 billion in October and $12.2 billion in November 1992. Growth and income funds, with sales of $5.0 billion, led all fund categories.
 November sales of bond and income mutual funds totaled $22.8 billion, compared with $24.6 billion in October and $16.5 billion in November 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 November, compared with $43.3 billion in October and $26.8 billion in November 1992.
 New sales of stock funds were $19.0 billion, compared with $20.7 billion in October and $12.0 billion in November 1992. New sales of bond and income funds were $20.8 billion, compared with $22.7 billion in October and $14.8 billion in November 1992.
 REDEMPTIONS
 Total redemptions (liquidation of shares by fund shareholders) were $23.9 billion in November compared to $20.2 billion in October and $12.8 billion in November 1992. Stock fund redemptions were $9.6 billion in November, compared with $8.3 billion in October and $4.7 billion in November 1992. Bond and income fund redemptions were $14.4 billion in November, compared with $12.0 billion in October and $8.1 billion in November 1992.
 NET SALES
 Total net sales (sales including reinvested dividends less redemptions) of long-term funds, including stock and bond and income categories, were $18.2 billion in November, compared with $25.3 billion in October and $15.9 billion in November 1992. Net sales of stock funds were $9.8 billion in November, compared with $12.6 billion in October and $7.5 billion in November 1992. Net sales of bond and income funds were $8.4 billion in November compared with $12.7 billion in October, and $8.4 billion in November 1992.
 NET NEW SALES
 Net new sales (sales excluding reinvested dividends less redemptions) were $15.9 billion in November, compared with $23.1 billion in October and $14.0 billion in November 1992. Net new sales of stock funds in November were $9.5 billion, compared with $12.4 billion in October and $7.3 billion in November 1992. November net new sales of bond and income funds were $6.4 billion, compared with $10.7 billion in October and $6.7 billion November 1992.
 NET EXCHANGES
 Net exchanges of stock funds totaled a negative $746.8 million, compared with $900.5 million in October and $2.7 billion in November 1992. Bond fund net exchanges were a negative $2.3 billion, compared with a negative $319.9 million in October and $1.0 billion in November 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 $15.2 billion in November, compared with $25.9 billion in October and $19.6 billion in November 1992. Net cash flow into stock funds was $9.0 billion in November, compared with $13.5 billion in October and $10.2 billion in November 1992. Net cash flow into bond and income funds was $6.1 billion in November compared with $12.3 billion in October and $9.5 billion in November 1992.
 NET NEW CASH FLOW
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $12.9 billion, compared with $23.7 billion in October and $17.7 billion in November 1992. Net new cash flow into stock funds was $8.7 billion in November, compared with $13.3 billion in October and $10.0 billion in November 1992. Net new cash flow into bond and income funds was $4.1 billion in November, compared with $10.4 billion in October and $7.8 billion in November 1992.
 ASSETS
 Assets of all mutual funds totaled $1.983 trillion ($1,983.3 billion) at the end of November, compared with $1.976 trillion ($1,976.2 billion) at the end of October. Total assets at the end of November 1992 were $1.589 trillion ($1,588.7 billion). Total assets of long-term funds for November reached $1.407 trillion ($1,406.6 billion), compared with $1.412 trillion ($1,411.6 billion) in October and $1.019 trillion ($1,018.9 billion) for November 1992.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) rose to $576.7 billion at the end of November, from $564.6 billion at the end of October. Assets of these short-term funds were $569.8 billion at the end of November 1992.
 TOTAL ASSETS OF FUNDS
 (millions of dollars)
 November 1993 October 1993 November 1992
 Stock $659,286.9 $662,765.3R $456,690.9R
 Bond & Income 747,326.1 748,863.0R 562,246.4R
 Taxable Money Market 469,490.0 461,902.0R 472,913.6
 Tax-Exempt Money
 Market 107,176.4 102,691.5R 96,839.3R
 Total 1,983,279.4 1,976,221.8 1,588,690.2
 LIQUID ASSET RATIO
 (Equity Funds)
 November 1993 October 1993 November 1992
 Liquid Asset Ratio 8.9% 8.9%R 9.5%
 FUNDS INCLUDED IN THIS REPORT
 November 1993 October 1993 November 1992
 Total Long
 Term (Stock and Bond) 3,592 3,507R 2,924R
 Taxable Money Market 617 612 580R
 Tax-Exempt Money Market 291 289 278
 Total 4,500 4,408 3,782R
 -0- 12/30/93
 /CONTACT: Betty Hart, 202-326-5862, or John Collins, 202-326-5864, both of the Investment Company Institute/


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

KD-IH -- DC007 -- 8071 12/30/93 13:04 EST
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Date:Dec 30, 1993
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