ICI Revises November Mutual Fund Report

Washington, DC, January 2, 2001 - The Investment Company Institute today restated the amount of net new cash flow to equity mutual funds reported in its November Trends in Mutual Funds Investing. Due to a reporting error, net new cash flow to equity mutual funds was revised to $5.68 billion in November, the Institute said, from $8.82 billion reported earlier. The revision was in cash flow to the global stock fund category. Other investment objectives were unaffected. Year-to-date stock fund flows through November 2000 are a record $297.39 billion, a one percent downward adjustment, after the revision.

The Institute’s monthly Trends report is based on a survey of fund companies that report actual fund sales, redemptions, exchanges, assets and related statistics. The November report includes 8,157 funds. The Trends report is routinely revised as the Institute becomes aware of new information about reporting funds.