Outflows from stock mutual funds topped $11 billion, the Investment Company Institute announced yesterday.
Lipper earlier put the figure at $8 billion (see MFMN 3/24/03).
Outflows from equity funds have continued each month since June 2002, with the exception of November, when stock funds took in $6.95 billion, the ICI said.
ICIs figure of $19.6 billion for net inflows into bond funds agrees with Lippers figure of $19 billion, but their estimates of money market funds slightly differed. ICI said money market funds had outflows of $39.6 billion, but Lipper put that number at $43 billion.