Cash flow into domestic stock funds was a net $2.40 billion in July, compared with cash flow of $9.74 billion in June. Meanwhile world equity funds had an outflow of $3.63 billion in July, a dramatic turnaround compared with an inflow of $1.08 billion the month before, according to the Investment Company Institute.
Bond funds benefited from the equity trends, with taxable bond funds gaining $7 billion in net inflows during the month, compared with just $1.58 billion in June. Municipal bond funds gained $2.33 billion in net inflows versus an inflow of just $598 million the previous month.
Assets of money market mutual funds increased by a stunning $17.08 billion to $2.070 trillion in July. However money market funds offered primarily to institutions suffered a $1.19 billion outflow during the month.
The combined assets of the nation’s mutual funds decreased by 0.7% to $6.895 trillion in July.
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