Mutual fund sales fell 20% in November...

Mutual fund sales fell 20% in November from the previous month but still outpaced redemptions, said the Investment Company Institute, an industry trade group. Fund sales totaled $8 billion last month, compared to $10.01 billion in October and $17.93 billion in November, 1986. The figures include sales of stock, bond and income funds but not money market funds. Fund redemptions (shareholder withdrawals) in November totaled $7.5 billion, down sharply from $15.8 billion in October but up from $5.8 billion a year earlier. The institute said the decline suggested that shareholder activity was stabilizing following the October stock market crash.