The Markets

ICI: Mutual Funds Report More Modest Drop in August

The combined assets of the nation's mutual funds decreased by $9.50 billion, or 0.08%, to $11.578 trillion in August, according to the Investment Company Institute (ICI).
Reported by Rebecca Moore

That was a different result than data also released Monday by the Financial Research Corporation, which found that stock and bond funds experienced net inflows of $401 million (see “Mutual Funds See Modest Inflow in August“).

Long-term funds—stock, bond, and hybrid funds—posted a net outflow of $12 billion in August, versus an outflow of $26.95 billion in July, ICI data show. Stock funds posted an outflow of $19.47 billion in August, compared with an outflow of $27.37 billion in July. Among stock funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $17.54 billion in August, while funds that invest primarily in the U.S. had an outflow of $1.93 billion for the month.

Hybrid funds posted an outflow of $379 million in August, compared with an outflow of $1.46 billion in July.

Bond funds had an inflow of $7.85 billion in August, compared with an inflow of $1.87 billion in July. Taxable bond funds had an inflow of $5.44 billion in August, and municipal bond funds had an inflow of $2.41 billion.

Money market funds posted an inflow of $28.21 billion in August, compared with an inflow of $79.51 billion in July. The net intake for funds offered primarily to institutions was $37.21 billion funds offered primarily to individuals had an outflow of $9.00 billion.

The ICI data is available here.