During the month the combined assets of the nation’s mutual funds decreased by 0.6% in July, to $7.077 trillion, according to the Investment Company Institute (ICI).
Investors poured $1.97 billion into Vanguard Group funds during the month. Year-to-date Janus Capital still tops the list with $36.5 billion of net inflows.
Industrywide, Financial Research estimates equity funds took in a total of $8.93 billion in July, down from $13.55 billion a year ago
Despite a net outflow from long-term fixed-income funds of $1.13 billion, the top selling fund was PIMCO Total Return Fund, which netted $811 million of new cash during the month.
Growth Fund of America was No. 2, with net inflows of $715 million. MFS Investment Growth ranked third with $500 million of net inflows.
Overall, ICI noted that equity fund assets decreased by $84.30 billion in July, despite net new cash flow of $17.58 billion during the month. Hybrid funds increased by $1.59 billion during the month, overcoming cash outflows of $1.17 billion.
Bond funds, taxable and municipal, increased by $4.00 billion in July, compared with a cash outflow of $725.7 million during the month.