The Lipper Growth Fund Index of 30 mutual funds was 432.57, down 0.30 point, or 1.29 percent, from Thursday. A year ago the index was 483.79.

The index, based on the net asset value of the 30 largest growth mutual funds, was set at 100 in 1968. At the end of 1989, the combined assets of the 30 funds stood at $44.8 billion, according to Lipper Analytical Services Inc.