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  • good_guy_us good_guy_us May 28, 1998 9:59 PM Flag

    Money !! Where are you going ?????????

    Thursday May 28, 9:34 pm Eastern Time

    Cash
    flow into U.S. stock funds falls in May

    (New
    throughout; updates with May reports)

    NEW YORK, May
    28 (Reuters) - U.S. stock mutual funds took in far
    less new cash in May than in April as
    investors
    apparently grew more conservative in the face of market
    volatility, a fund-flow tracking service said
    Thursday.

    Based on data through May 27, Mutual Fund Trim Tabs
    projected that the flows into equity funds will total $5.9
    billion for
    May.

    For April, equity funds took
    in $26.55 billion in new cash, according to a report
    from the Investment Company Institute.

    ``It's
    very down from April,'' said Carl Wittnebert, Mutual
    Fund Trim Tabs director of research. ``I think it's
    the volatility.''

    Through Wednesday, U.S.
    stock funds at Charles Schwab & Co. took in $198
    million, compared with $848 million during
    April,
    Schwab spokesman Greg Gable
    said.

    Aggressive-growth stock funds had a net outflow of $165 million for
    the month through Wednesday, Gable said, while
    bond
    funds took in $251 million in new cash.

    At T.
    Rowe Price Associates Inc., emerging-markets funds
    ``are still seeing a bit of outflow,'' spokeswoman
    Rowena Itchon
    said, while money-market funds ``had a
    pretty good month.''

    INVESCO Funds Group Inc.
    spokeswoman Colleen Noth said investors in May seemed ``kind
    of neutral'' on equities, but
    very interested in
    high-yield bond funds.

    Even though less new cash
    flowed into stock funds in May than in April, Wittnebert
    noted that inflows for the year to date still
    were
    about even with the same period in 1997.

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