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%.

The statistics, provided by the European Fund and Asset Management Association, also showed that investment fund assets worldwide reached $15.28 billion in the first quarter, up 5% from the end of 2004.

Money market fund assets rose by 3.1% 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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