Investors were more receptive to non-U.S. funds, steering an estimated $1.30 billion their way for the week. They were even kinder to bond funds, which received an estimated infusion of $7.51 billion, up 36% from the $5.52 billion inflow a week earlier. Of the $7.51 billion, $6.43 went to taxable bond funds with the remaining $1.07 billion going to muni bond funds.
Hybrid funds — those that invest in both stocks and fixed income securities — received a tepid $36 million in estimated inflows, down from $945 million the previous week.
All told, mutual funds took in an estimated $2.24 billion, the weakest inflow so far this year.
The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI. The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.