Crane Data Subscribers
ICI Monthly Assets: Money Funds Up $42.7 Billion in June; $183.2 YTD. The Investment Company Institute just released its "Trends in Mutual Fund Investing: June 2007", showing that money funds were practically the only asset gainer among mutual fund categories last month. (Taxable bond funds eked out a gain, but all stock and other fund classes showed declines.) Money fund assets rose $42.7 billion to a record $2.538 trillion. New money (inflows) accounted for $34.6 billion of the increase. (Crane Data normally focuses its analysis on ICI's weekly series since it's released in a much more timely manner.) Year-to-date through June 30, money funds increased by $183.2 billion, or 7.8%. Net new cash flow, which excludes dividends, totalled $128.97 billion YTD in '07 vs. a YTD total of $36 billion for the first half of 2006. Liquid assets of stock mutual funds reached a new record low of 3.5%.
