Assets in mutual funds worldwide declined 5.1% to $24.81 trillion by the end of the first quarter, the
Whereas long-term funds took in $131 billion in the fourth quarter of 2007, they lost a net of $93 billion in the first quarter of 2008. The reverse was true of bond funds; they lost $29 billion in the fourth quarter but took in $13 billion in the first.
Equity and balanced funds lost $147 billion in the first quarter, after having taken in $136 billion in the fourth quarter. Money market funds continued to remain popular after netting $250 billion in the fourth quarter of 2007; they reaped $487 billion in the first quarter.