Total U.S. mutual fund assets increased by $161.5 billion to $12.338 trillion in July, according to the Investment Company Institute's official survey of the mutual fund industry.

Long-term funds-stock, bond, and hybrid funds-had a net inflow of $19.02 billion in July, vs. an inflow of $10.64 billion in June.

Money market funds had an inflow of $34.69 billion in July, compared with an outflow of $46.40 billion in June. Funds offered primarily to institutions had an inflow of $33.40 billion and funds offered primarily to individuals had an inflow of $1.29 billion.