Bonds funds were the biggest beneficiaries, drawing $6.42 billion in estimated inflows, a 29% percent increase from $4.97 billion the week before. Of the $6.42 billion, $6.06 billion went to taxable bond funds with the remaining $361 million going to municipal bond funds.
Equity funds were also up for the week, taking in an estimated $2.94 billion, nearly triple the $1.05 billion they attracted a week earlier. Non-U.S. stock funds did especially well, drawing an estimated $3.52 billion for the week. U.S. funds, in contrast, lost an estimated $578 million, the only fund category to post an outflow.
Hybrid funds, which invest in both stocks and fixed income securities, attracted $2.50 billion in estimated inflows, up slightly from the previous week.
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.
