Long-term mutual funds saw strong inflows for the 22nd week in a row, taking in $15.57 billion in the week ended Aug. 12, with the majority of flows, $12.785 billion going to bond funds ($11.84 billion) and hybrid funds ($945 million), the Investment Company Institute said.
Total inflows to stock, bond and hybrid funds over the past 22 weeks is nearly $231 billion.
Stock funds took in $2.79 billion, down sharply from the $5.43 billion they took in the previous week. By comparison, earlier in the year while the market continued to swoon, investors were redeeming more than $10 billion a week from equity funds.
In the stock category, the overwhelming majority of money went to foreign funds ($2.48 billion) versus U.S. funds ($318 million).
Separately, iMoneyNet reported that money market funds lost $22.63 billion in the week, driven by redemptions by institutional investors moving back into the market after a full 17 months of staying largely on the sidelines.