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OCTOBER MUTUAL FUND SALES TOTAL $28.0 BILLION

 WASHINGTON, Nov. 27 ~PRNewswire~ -- Sales of stock and bond and income mutual funds totaled $28.0 billion in October, according to the Investment Company Institute, the national association of the mutual fund industry. This compares with total sales of $29.4 billion in September and $24.6 billion in October 1991.
 Sales of stock mutual funds totaled $10.0 billion in October, compared with $10.1 billion in September and $9.3 billion in October 1991. Growth and income funds, with sales of $3.9 billion, led all stock fund categories.
 October sales of bond and income mutual funds totaled $18.0 billion, compared with $19.2 billion in September and $15.3 billion in October 1991. Government funds led all bond and income fund categories, with sales of $4.5 billion.
 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 $26.2 billion in October, compared with $26.6 billion in September and $23.1 billion October a year ago.
 New sales of stock funds were $9.8 billion, compared with $9.3 billion in September and $9.0 billion in October 1991. New sales of bond and income funds reached $16.4 billion, compared with $17.3 billion in September and $14.0 billion in October a year ago.
 REDEMPTIONS
 Total redemptions (liquidation of shares by fund shareholders) were $15.4 billion in October, compared with $14.5 billion in September and $10.2 billion in October 1991. Stock fund redemptions were $5.1 billion in October, compared with $4.9 billion in September and $4.6 billion in October 1991. Bond and income fund redemptions were $10.3 billion in October, compared with $9.6 billion in September and $5.6 billion in October 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 $12.6 billion in October, compared with $14.9 billion in September and $14.4 billion in October 1991. Net sales of stock funds were $4.9 billion in October, compared with $5.3 billion in September and $4.7 billion in October 1991. Net sales of bond and income funds totaled $7.7 billion in October, compared with $9.6 billion in September and $9.7 billion in October 1991.
 NET NEW SALES
 Net new sales (sales excluding reinvested dividends less redemptions) were $10.8 billion in October, compared with $12.2 billion in September and $12.9 billion in October 1991.
 Net new sales of stock funds in October were $4.8 billion, compared with $4.4 billion in September and $4.7 billion in October 1991. October net new sales of bond and income funds were $6.1 billion, compared with $7.7 billion in September and $8.4 billion October 1991.
 NET EXCHANGES
 Net exchanges of stock funds totaled $272.1 million, compared with -$58.8 million in September and $307.1 million in October 1991. Bond fund net exchanges totaled -$4.0 billion compared with $363.7 million in September and $627.4 million in October 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 $8.9 billion in October, compared with $15.2 billion in September and $15.4 billion in October 1991. Net cash flow into stock funds was $5.2 billion in October, unchanged from September. It was $5.0 billion in October 1991. Net cash flow into bond and income funds was $3.7 billion, compared with $10.0 billion in September and $10.3 billion in October 1991.
 NET NEW CASH FLOW
 Net new cash flow (net new sales combined with net exchanges) into long-term funds was $7.0 billion, compared with $12.5 billion in September and $13.8 billion in October 1991. Net new cash flow into stock funds was $5.0 billion in October, compared with $4.4 billion in September and $4.8 billion in October 1991. Net new cash flow into bond and income funds was $2.0 billion, compared with $8.1 billion in September and $9.0 billion in 1991.
 ASSETS
 Assets of all mutual funds totaled $1.556 trillion ($1,556.0 billion) in October, compared with $1.533 trillion ($1,532.6 billion) in September. Total assets in October 1991 were $1.301 trillion ($1,301.2 billion). Total assets of long-term funds for October were $980.9 billion, compared with $978.5 billion in September and $754.9 billion in October 1991.
 Assets of short-term funds (money market funds, including both taxable and tax-exempt) rose to $575.1 billion in October, from $554.1 billion in September. As sets of these short-term funds were $546.3 billion in October 1991.
 TOTAL ASSETS OF FUNDS (millions of dollars)
 October 1992 September 1992 October 1991
 Stock $429,794.4 $423,528.8R $337,612.4
 Bond & Income 551,148.8 554,978.5R 417,280.2R
 Taxable Money
 Market 480,086.9 462,817.3R 456,488.8
 Tax-Exempt
 Money Market 94,997.6 91,260.3R 89,769.1
 Total 1,556,027.7 1,532,584.9R 1,301,150.5R
 LIQUID ASSET RATIO (Equity Funds)
 October 1992 September 1992 October 1991
 Liquid Asset Ratio 9.3 pct. 9.2 pct. 8.7 pct.
 FUNDS INCLUDED IN THIS REPORT
 October 1992 September 1992 October 1991
 Total Long Term 2,886 2,808 2,576
 (Stock and Bond)
 Taxable Money Market 576 576 541
 Tax-Exempt
 Money Market 275 277 261
 Total 3,737 3,661 3,378
 CLOSED-END UNDERWRITINGS
 Total underwritings of closed-end funds reported in October were $892.8 million, compared with $310.1 million in October 1991.
 -0- 11~27~92
 ~CONTACT: John Collins, 202-955-3535, or Malin Jennings, 202-955-8415, both of the Investment Company Institute~


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

DC -- DC003 -- 1770 11~27~92 10:02 EST
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Date:Nov 27, 1992
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