Mutual assets continued dive in September - Boston Business Journal:

badillodacyroic1505.blogspot.com
The mutual fund industr has been hit by outflows and a sharp decrease in asseg values amid a free fall in globalstockm markets. International and globao equity funds experienced the largest net outflowzwith $27.6 billion, FRC Boston-based mutual funds have been among those hardestt hit. , and saw theirf assets fall 11.80 percent, 11.21 percent and 11.22 respectively, during September, FRC said. The declineas don’t include money-market mutual funds. Over the past 12 Putnam has experienced the sharpest declines among the 25 larges t mutualfund groups. Putnam had $58.1q billion in assets at the endof September, a 35.85 percenft drop from $90.
6 billion at the end of September 2007, FRC Fidelity’s assets fell to $717 compared with $941.7 billion at the end of Septembef 2007, FRC said. Columbia Management, owned by , saw assetsz decline 21.44 percent to $107.94 billio n during that 12-month span, FRC Year to date, the best selling fund has been PIMCO’ws Total Return bond fund, whicb has had $19.1 billion in net That compareswith $2.93 billion in net inflows durin the same period in 2007. Capital Growtg Management’s CGM Focus run from Boston byKen Heebner, had $3.6 billion in net inflowzs during the first nine months of 2008, comparer with just $639 million during the same periodd in 2007, FRC said.