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SALES OF MUTUAL FUNDS FELL IN FEBRUARY

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Sales of stock, bond and income mutual funds dropped to $11.8 billion in February from $13.7 billion in January but were up from the $8.1 billion in sales recorded in February 1989, the Investment Company Institute reports.

The national association of the mutual fund industry said assets of all mutual funds increased to an all-time high of $1,006.7 billion in February from $984.4 billion in January.Assets of stock and bond funds increased to $542.7 billion in February from $535.2 billion in January. Assets of money markets funds, including both taxable and tax-free, increased to $464.0 billion in February from $449.2 billion in January.