The combined assets of the nation's mutual funds increased by $208.5 billion, or 1.7%, to $12.171 trillion in June, according to data from the Investment Company Institute.

Long-term funds-stock, bond, and hybrid funds-had a net inflow of $10.48 billion in June, vs. an inflow of $9.92 billion in May.

Specifically, stock funds posted an outflow of $6.28 billion in June, compared with an outflow of $9.77 billion in May. Hybrid funds posted an inflow of $510 million in June, compared with an inflow of $735 million in May, and bond funds had an inflow of $16.25 billion in June, compared with an inflow of $18.96 billion in May.

However, money market funds had an outflow of $46.40 billion in June, compared with an inflow of $2.01 billion in May.