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OCTOBER MUTUAL FUND SALES TOTAL $25.2 BILLION

 OCTOBER MUTUAL FUND SALES TOTAL $25.2 BILLION
 WASHINGTON, Nov. 26 /PRNewswire/ -- Sales of stock and bond-and-


income mutual funds totaled $25.2 billion in October, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $20.9 billion in September and $10.3 billion in October a year ago.
 Total sales during the first ten months of 1991 reached $184.3 billion, compared with $124.5 billion during the first ten months of 1990. "In a record shattering month, total assets of mutual funds increased by $38 billion to top the $1.3 trillion mark," said Dr. Jacob Dreyer, vice president and chief economist at the Institute. "The increase was about evenly split among equity, bond and short- term funds."
 Assets of all mutual funds reached a record $1.302 trillion ($1,301.6 billion) in October compared with $1.264 trillion ($1,263.5 billion) in September. Total assets in October 1990 were $1.034 trillion ($1,034.0 billion). "Despite the steepest yield curve in recent history, short-term funds still managed to attract over $13 billion in new money," said Dreyer.
 Assets of short-term funds (money markets, including both taxable and tax-free) rose to $546.3 billion in October from $533.1 billion in September. Assets of short-term funds were $495.7 billion in October 1990.
 Sales of stock mutual funds totaled $9.3 billion in October, compared with $7.9 billion in September and $4.3 billion in October a year ago. Growth-and-income funds, with sales of $3.0 billion, continued to lead equity sales categories.
 Dreyer continued: "Among equity funds, about one half of the increase was attributable to the appreciation of shareholders' portfolios. By contrast, among bond and income funds, only about 10 percent of the thirteen-and-a-half-billion-dollar increase in their assets was a result of the rising value of bond portfolios. The remainder was mainly due to net sales of shares of these funds which reached the highest monthly level since March 1987."
 October sales of bond-and-income mutual funds totaled $16.0 billion, compared with $13.0 billion in September and $6.1 billion in October 1990. Long-term municipal bond funds (including national and single-state funds) recorded total sales in October of $4.0 billion, up from September sales of $3.4 billion. Sales of these funds were $2.2 billion in October 1990.
 Total redemptions were $10.2 billion in October, compared with $8.9 billion in September and $8.0 billion in October 1990. Stock fund redemptions were $4.6 billion in October, compared with $4.2 billion in September and $3.2 billion in October 1990. Bond-and- income fund redemptions were $5.7 billion in October, compared with $4.7 billion in September and as well as October 1990.
 Total net sales of long-term funds, including both stock and bond-and-income categories, were $15.0 billion in October, compared with $12.0 billion in September and $2.4 billion in October 1990. Net sales of stock funds were $4.7 billion in October, compared with $3.6 billion in September and $1.0 billion in October 1990. Net sales of bond-and-income funds totaled $10.3 billion in October, compared with $8.4 billion in September and $1.3 billion in October 1990.
 Exchanges into stock funds were $4.9 billion; exchanges out of stock funds were $4.6 billion. Exchanges into bond funds were $3.6 billion; exchanges out of bond funds were $2.9 billion. Exchanges are investments redeemed from one fund and moved to another fund in the same fund group or complex.
 Net cash flow (net sales combined with net exchanges) into long- term funds was $15.9 billion in October compared with $13.3 billion in September and $2.3 billion in October 1990. Net cash flow into stock funds was $5.0 billion in October, compared with $3.8 billion in September and $824.5 million in October 1990. Net cash flow into bond-and-income funds was $10.9 billion compared with $9.5 billion in September and $1.6 billion in October 1990.
 Total underwritings of closed-end funds in October were $310.1 million compared to $974.7 million in September and $102.0 million in October 1990.
 SUPPLEMENT
 Mutual Fund Statistics Data for October 1991
 (Millions of Dollars)
 YTD YTD
 10/91 9/91 10/90 10/91 10/90
 Total Sales $25,221.1 $20,892.3R $10,337.5R 184,281.3 124,523.4
 Aggr. Growth 1,650.8 1,390.3 585.3R 12,642.7 7,914.7
 Growth 2,824.3 2,057.0 1,138.0 19,995.0 14,556.0
 Growth/Income 2,975.3 2,802.7 1,624.7R 27,913.5 20,996.3
 Prec. Metals 262.8 178.7 46.7 1,402.3 1,045.8
 International 657.1 541.8 449.1R 5,306.9 6,953.6
 Global-Equity 231.6 172.9 148.7 2,093.4 2,951.7
 Income-Equity 653.1 706.7 274.7 5,420.2 5,079.1
 Option/Income 15.9 6.0 12.4 124.8 221.4
 Flexible Port. 206.0 214.2R 69.1 1,383.6 1,165.3
 Balanced 505.3 485.1 139.1 4,014.7 2,375.4
 Income Mixed 1,181.1 901.9 454.1 8,179.0 4,716.8
 Income-Bond 1,177.0 1,258.2 369.8R 8,094.1 6,350.1
 Government 3,628.1 2,815.8 1,012.9 20,557.9 9,945.7
 GNMA(GinnieMae) 1,825.1 1,628.2 505.8 11,771.7 4,498.0
 Global-Bond 2,291.9 1,272.2 825.3 13,428.7 5,008.3
 Corporate Bond 551.6 519.1 219.2 4,157.8 2,426.7
 High Yield Bond 601.5 533.3 282.6 4,938.8 4,514.0
 Long-Term
 Municipal Bond 2,095.4 1,771.1 1,171.1 17,326.0 12,869.4
 Single-State
 Municipal Bond 1,887.3 1,637.1 1,009.0 15,530.3 10,965.0
 10/91 9/91 10/90
 Purchases of Common Stocks $ 22,838.6 $ 16,892.5R $ 13,955.0R
 Sales of Common Stocks 19,419.2 14,773.6R 13,526.4R
 Purchases of Other
 Securities 48,929.2 43,167.9R 43,216.4R
 Sales of Other Securities 40,399.0 33,086.0R 39,372.7R
 Holdings of Cash and
 Short-Term Securities $ 59,841.6 $ 53,883.7R $ 51,783.0R
 Liquid Asset Ratio 8.7 pct. 8.2 pct. 12.9 pct.
 (Stock funds only)
 Total Assets of Funds 1,301,590.2 $1,263,549.2R $1,033,992.2
 Money Market 456,488.8 446,878.7R 413,387.3
 Short-Term Municipal
 Bond 89,769.1 86,243.6R 82,340.5R
 Stock Funds 337,489.9 326,035.9 225,852.8
 Bond and Income Funds 417,842.4 404,391.0 312,411.6
 -0- 11/26/91
 /CONTACT: Betty Hart, 202-955-3532, or Malin Jennings, 202-955-8415, both of Investment Company Institute/ CO: Investment Company Institute ST: District of Columbia IN: FIN SU:


DC -- DC026 -- 7426 11/26/91 15:14 EST
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