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      Mutual fund assets worldwide increased in the first quarter of 2010

      Mutual fund assets worldwide increased in the first quarter of 2010

      The latest Worldwide Flows report by Investment Company Institute (USA) shows that the U.S. accounts for more than half of all assets followed by France, Ireland and Luxembourg. At the end of the first quarter of 2010, 40 percent of worldwide mutual fund assets were held in equity funds. The asset share of bond funds was 21 percent.

      Investment Company Institute, the national association of U.S. investment companies, says, “Mutual fund assets worldwide increased 0.58% to $23.015 trillion at the end of the first quarter of 2010. In total, worldwide mutual funds had $103.6 billion in net outflows in the first quarter, compared to $77 billion in net inflows in the fourth quarter of 2009.

      The Worldwide Flows report shows that the U.S. accounts for 48.7% of all assets with $2.984 trillion. France ranks third with 7.5% ($1727 billion), Ireland comes in fourth place with 3.84% ($885 billion) and Luxembourg ranks second with 10% ($2321 billion).

      The number of mutual funds worldwide stood at 65,971 at the end of the first quarter of 2010. By type of fund, 39 percent were equity funds, 23 percent were balanced/mixed funds, 19 percent were bond funds, and 5 percent were money market funds.

      By region, 55 percent of worldwide assets were in the Americas in the first quarter of 2010, 32 percent were in Europe, and 12.5% in Africa and the Asia and Pacific region.