Considering the events of last month, mutual fund redemptions remained fairly stable in September, according to the latest numbers from Strategic Insight.
Open-end equity fund redeemed approximately $25 billion -- 0.8% of mutual fund assets. Strategic Insight noted that a portion of these redemptions were before the Sept. 11 attacks. In addition, net redemptions among equity-linked variable annuities added another $4 to $5 billion to the redemptions.
Bond inflows reached about $8 billion in September -- almost all within taxable funds. According to the consulting group, short and intermediate funds gained assets, while many high-yield funds lost assets, a trend that has been consistent this year.
And despite the bear market that the economy had been experiencing during 2001, Strategic Insight estimates that equity fund inflows for the rest of the year will total more than $50 billion.
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