Mutual funds garnered net inflows of $52 billion in July, according to New York-based Strategic Insight.
Stock mutual funds saw net outflows of $27 billion during the month, prompted in part by the 8% plunge in U.S. stock prices, according to a Strategic Insight news release. However, net inflows to money market funds totaled $75 billion, and bond funds attracted net inflows of $4.5 billion.
Strategic Insight said following three months of net equity fund inflows through June, individual and institutional investors in July pulled $20 billion from equity funds invested in U.S. stocks and another $7 billion from funds invested in international equities.
Still, the retreat remains modest considering the 13% drop in the S&P 500 over the first seven months of the year, and the $7 trillion still held in stock funds, Strategic Insight said.
The monthly data doesn’t include flows to ETFs, which pulled in about $9.4 billion across all asset classes in July, according to Strategic Insight.
