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Release: Trends in Mutual Fund Investing

Trends in Mutual Fund Investing: July 2021

Washington, DC; August 30, 2021—The combined assets of the nation’s mutual funds increased by $166.39 billion, or 0.6 percent, to $26.16 trillion in July, according to the Investment Company Institute’s official survey of the mutual fund industry. In the survey, mutual fund companies report actual assets, sales, and redemptions to ICI.

Total Net Assets of Mutual Funds*
Billions of dollars

 

Jul 2021

Jun 2021

% change

Jul 2020

Total long-term

21,650.5

21,459.7

0.9

17,466.1

Equity

14,292.2

14,182.7

0.8

11,098.5

Domestic equity

10,840.3

10,713.5

1.2

8,323.6

World equity

3,451.8

3,469.2

-0.5

2,774.9

Hybrid

1,784.8

1,764.2

1.2

1,497.7

Bond

5,573.6

5,512.8

1.1

4,869.9

Taxable bond

4,615.6

4,571.2

1.0

4,042.7

Municipal bond

958.0

941.6

1.7

    827.2

Total money market

4,509.7

4,534.1

-0.5

4,579.3

Taxable money market

4,418.5

4,440.7

-0.5

4,457.5

Tax-exempt money market

91.2

93.5

-2.4

121.8

Total

26,160.3

25,993.9

0.6

    22,045.4

* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.

Note: Components may not add to the total because of rounding.

Net New Cash Flow of Mutual Funds*
Millions of dollars

 

Jul 2021

Jun 2021

Jan–Jul 2021

Jan–Jul 2020

Total long-term

-254

-30,747

49,491

-379,706

Equity

-18,292

-68,553

-251,038

-306,669

Domestic equity

-27,833

-66,312

-220,892

-242,277

World equity

9,541

-2,241

-30,146

-64,392

Hybrid

2,104

-843

-3,023

-59,786

Bond

15,934

38,649

303,552

-13,251

Taxable bond

5,761

29,494

243,770

-14,510

Municipal bond

10,173

9,155

59,783

1,259

Total money market

-24,392

-73,370

176,650

937,110

Taxable money market

-22,139

-73,951

190,949

953,554

Tax-exempt money market

-2,253

581

-14,298

-16,444

Total

-24,646

-104,117

226,141

557,404

* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.

Note: Components may not add to the total because of rounding.

Highlights: Long-term funds—equity, hybrid, and bond funds—had a net outflow of $254 million in July, versus an outflow of $30.75 billion in June.

Equity funds posted an outflow of $18.29 billion in July, compared with an outflow of $68.55 billion in June. Among equity funds, world equity funds (U.S. funds that invest primarily overseas) posted an inflow of $9.54 billion in July, versus an outflow of $2.24 billion in June. Funds that invest primarily in the United States had an outflow of $27.83 billion in July, versus an outflow of $66.31 billion in June. The liquidity ratio of equity funds (the percentage of liquid assets over total net assets) was 2.0 percent in July, unchanged from June.

Hybrid funds posted an inflow of $2.10 billion in July, compared with an outflow of $843 million in June.

Bond funds had an inflow of $15.93 billion in July, compared with an inflow of $38.65 billion in June. Taxable bond funds had an inflow of $5.76 billion in July, versus an inflow of $29.49 billion in June. Municipal bond funds had an inflow of $10.17 billion in July, compared with an inflow of $9.16 billion in June.

Money market funds had an outflow of $24.39 billion in July, compared with an outflow of $73.37 billion in June. In July funds offered primarily to institutions had an outflow of $10.94 billion and funds offered primarily to individuals had an outflow of $13.45 billion.

Number of Mutual Funds

 

Jul 2021

Jun 2021

Jul 2020

Total long-term

7,188

7,214

7,399

      Equity

4,378

4,389

4,525

Domestic equity

2,935

2,943

3,047

World equity

1,443

1,446

1,478

      Hybrid

703

707

742

      Bond

2,107

2,118

2,132

Taxable bond

1,560

1,570

1,579

Municipal bond

547

548

553

Total money market

314

316

356

      Taxable money market

250

251

276

      Tax-exempt money market

64

65

80

Total

7,502

7,530

7,755

* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.

About ICI’s Data

Data for prior dates reflect revisions due to data adjustments, reclassifications, and changes in the number of funds reporting. For more information about ICI data and classifications, please visit our FAQs.

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