Total assets in U.S. mutual funds in July slipped 0.8%, or $91.6 billion, to $11.59 trillion, according to the Investment Company Institute. The asset decline was less than the 5% drop ICI reported for June.
Long-term stock, hybrid and taxable bond funds all had net outflows $26.4 billion, $1.5 billion and $689 million, respectively while municipal bond funds had net inflows of $2.5 billion. Money market funds garnered net inflows of $79 billion.
Equity markets trended lower in July as the S&P 500 index declined slightly less than 1%.