Some $857.4 million flowed into unit investment trusts in October, bringing deposits for the first 10 months of the year to $8.23 billion, the Investment Company Institute said.
This compares with $7.29 billion for the first 10 months of 1992, the trade group said.
Unit investment trusts are investment companies that buy fixed portfolios of bonds or stocks.
Equity trusts issued shares worth $391.8 million in October, for a year-to-date total of $2.87 billion. This compares with $1.42 billion through the first 10 months of last year.
Tax-free bond trusts had inflows of $358.6 million in October, or $4.05 billion so far this year, compared with $3.82 billion for the first 10 months of 1992.
Taxable bond trusts received $107 million in October, reaching $1.32 billion, compared with $2.05 billion for the first 10 months of 1992.
Seventy tax-free bond trusts, seven equity trusts, and one taxable bond trust began issuing shares in October, the ICI said.
All told, there were 13,598 outstanding unit trusts with a market value of $97.9 billion at the end of October, according to the ICI.
