The U.S. mutual fund market remained broadly flat in the first quarter of 2005, while European cross-border UCITS fund assets rose by 5.1 percent, an Aug. 17 Reuters report indicated.

The statistics, provided by the European Fund and Asset Management Association, also showed that investment fund assets worldwide reached $15,280 billion in the first quarter, up 5% from the end of 2004.

Money market fund assets rose by 3.1 percent to 2.5 trillion euros.

Equity assets accounted for 45% of all mutual fund holdings at the end of March, while bond funds accounted for 20%, money market funds 21% and balanced/mixed funds 9%.

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