2013 is looking good so far for mutual funds.
Total assets of U.S. mutual funds increased by $377.7 billion, or 2.9%, to $13.4 trillion during the first month of the year, according to Investment Company Institute data.
Long-term funds — i.e. stock, bond and hybrid funds — boasted a record net inflow of $80.6 in January, versus outflow of $23.1 billion in December.
Stock funds had $6.2 trillion in assets, compared with $5.9 in December 2012 and $5.2 trillion in December 2011. World equity funds posted an inflow of $19.4 billion in January versus outflow of $4.4 billion in December, while domestic funds logged inflow of $18.6 billion in January versus outflow of $26.3 billion in December.
Bond funds had $3.5 trillion in assets. Inflow amounted to $32.8 billion in January, compared with $7.25 billion in December. Taxable bond funds, assets for which amounted to $2.9 trillion, enjoyed inflows of $25.7 billion in January, versus $10.4 billion in December. Municipal bonds had assets of 588.7 billion and inflows of $7.13 billion in January, versus outflow of $3.2 billion in December.
Hybrid funds held $1 trillion in assets. They posted inflow of $9.9 billion in January, compared with $299 million in December.
Finally, money market funds had assets of $2.7 trillion in January, down $9.1 billion from December assets. Money funds saw outflows of $10.7 billion in January, compared with inflow of $76.5 billion in December. Institutional funds enjoyed inflows of $15.5 billion, but retail funds saw $26.2 billion in withdrawals.