Mutual Funds Grow 2.9% in July

August 30, 2005 ( - The combined assets of the nation's mutual funds grew by $240 billion, or 2.9%, to a total of $8.4 trillion in July according to the Investment Company Institute's (ICI's) Trend in Mutual Fund Investing July 2005.

Stock funds reported the highest change in the month of 4.4% to make up $4.6 trillion of the total mutual fund assets.

Money market funds reported the highest inflow for the month of $22.74 billion, a huge increase from the $4.13 billion in inflows reported for June.   Funds offered primarily to institutions had an inflow of $13.14 billion while those offered primarily to individuals had an inflow of $9.6 billion, according to the ICI report.

Among stock funds, which posted an inflow of $10.08 billion in July, world equity funds posted a $4.68 billion inflow while domestic equity funds posted an inflow of $5.4 billion.

Bond funds had an inflow of $7.37 billion in July, compared to $4.13 billion in June.   Taxable bond funds accounted for most of the gain change ( $5.67 billion in July vs. $2.91 billion in June), while municipal bond funds remained relatively unchanged ($1.70 billion in July vs. $1.15 billion in June).

Hybrid funds reported a decrease in inflows for July compared with June, $1.46 billion vs. $2.05 billion, according to ICI.

The complete ICI report is  here .