SECURITIES

Mutual Fund Inflows Slow: Gross purchases of stock and bond mutual funds eased to $35.5 billion in February from $36.9 billion in January, the Investment Company Institute reported. Net new cash flow--which measures purchases less redemptions, reinvested dividends and exchanges among funds--totaled $19.4 billion in February, down from $20.9 billion in January but still well above the $15.7 billion in February, 1992. Stock fund inflows were down 15% for the month, while bond fund inflows held steady. In March, many mutual fund firms say purchases are strong but uneven. Vanguard Group said stock fund purchases are up 20% over February levels, while municipal bond purchases are down 50%. Franklin Group, however, said muni fund sales are up slightly, while stock fund sales are flat.