Flow of funds: Mutual Fund Shares Q2 2004
Net issues of mutual fund shares in the second quarter of 2004 were $118.7 billion. Net issues of mutual fund shares were down from the annual average of $215.2 billion during the last years of the Great Bubble (1999-2000), and the annual average of $282.0 billion during the post-Bubble years (2001 through Q1 of 2004).
In the last years of the Great Bubble (1999-2000), 76.5% of net sales of mutual fund shares were invested in equities.
In the post Bubble years (2001 through Q1 2004), investment in equities averaged only 45.2%. However, by Q2 2004, investment in corporate equity was back up to 79.1% of net sales.
The primary purchasers of mutual fund shares continued to be households ($118.7 billion, net). State and local governments, however, were net sellers ($23.1 billion, net).
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