Gathering the largest percentage of inflows into all types of mutual funds in 2002, funds of funds received one out of every seven dollars that flowed into the worldwide mutual fund industry last year, according to a recent Cerulli Associates study.

While the fund of fund industry lost 17% of its assets from market depreciation, it drew in a net $15 billion in new net inflows in the year. By the end of 2002, worldwide funds of funds held $235 billion, down from $254 billion in 2001, but the industry still sports a three-year annualized growth rate of 16%. By contract, the global fund industry decreased 3% over the same time frame.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.