Mutual fund assets worldwide decreased 12.1 percent to $21.66 trillion at the end of the third quarter of 2008 according to the Investment Company Institute. Net cash flow to all funds was negative in the third quarter with $218 billion in outflows, the first worldwide outflow recorded since the third quarter of 2002. Long-term funds had net outflows of $246 billion in the third quarter, after registering net inflows of $73 billion in the second quarter. All categories of long-term funds experienced outflows. Year-to-date, equity funds have had $254 billion in outflows, bond funds have had $39 billion in outflows, and balanced/mixed funds have had $24 billion in outflows. Money market funds experienced net inflows of $28 billion in the third quarter, compared with outflows of $70 billion in the second quarter of 2008. Year-to-date money market funds have had $444 billion of net inflows.
Widespread panic - Sharp decrease in global fund assets
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