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Thursday, February 23, 2006

Fund Assets Hover Close To $10 Trillion

by: Armie Margaret Lee

U.S. mutual fund assets are edging towards the $10 trillion mark, driven by strong inflows and stock market appreciation, according to figures from research firm Strategic Insight.

"Itís an interesting milestone in the history of the industry, especially given developments including the regulatory firestorm in 2003 and 2004," Avi Nachmany, director of research at the New York-based firm, said in an interview. "The ultimate voter is the investor."

Assets hit $9.9 trillion at the end of January. The total includes open-end mutual funds, closed-end mutual funds, mutual funds underlying variable insurance products, and exchange-traded open-end mutual funds.

Inflows to international equity funds rose to all-time high of $30 billion, a monthly pace nearly double the previous record. 

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