A news release from the Investment Company Institute (ICI) said stock funds led the way over the month with a 3.8% increase from $4.24 trillion in April to $4.40 trillion in May
ICI data showed that tax-free money market funds bulled ahead by 3% in May to $315.5 billion while hybrid funds saw a 2.3% advance to $535.9 billion
Meanwhile, according to ICI, taxable bond funds were slightly ahead by 1.4% to $987.5 billion while muni bond funds were nearly flat for the month with a 0.8% gain to $334 billion.
The ICI report is here .