Net flows into long-term equity and fixed-income mutual funds in August rose 33.5 percent to $20.15 billion, up from $15.09 billion in July, according to the Investment Company Institute of Washington, D.C.
This was a reversal from July, when net sales of long-term funds declined sharply from June, according to the ICI. The institute's initial figures for July had indicated a decline of 20 percent in long-term net assets. (MFMN 9/11/00)
Unlike long-term funds, money market fund net sales declined 33.6 percent in August, according to the ICI. Money funds had net sales of $22.1 billion in August, down from $33.3 billion in July, the ICI said.