The market may have been flat for much of 2004, but it didn't affect investors' enthusiasm for mutual funds. Total assets in the nation's mutual funds grew by $177.5 billion, or 2.2 percent, to $8.1 trillion in December, according an Investment Company Institute survey of the mutual fund industry.
Stock funds had a net inflow of $697 billion in 2004, compared with $152.28 billion in 2003 — the largest annual influx since 2000, when stock funds took in $309 billion. Long-term funds posted a net inflow of $209.81 billion on the year, compared with a net inflow of $215.84 billion in 2003. Hybrid funds had a net inflow of $42.56 billion last year compared with a net inflow of $32.58 billion in 2003.
|December 2004||November 2004||Percent Changed||December 2003|
|Taxable Bond Funds||961.2||951.0||+1.1||906.8|
|Municipal Bond Funds||327.7||325.5||+0.7||334.1|
|Taxable Money Market Funds||1,602.0||1,609.6||-0.5||1,763.3|
|Tax-Free Money Market Funds||309.9||310.6||-0.2||288.4|