Money market funds provided the major part of a 1.6% boost in mutual funds during the second quarter, according to data the Investment Company Institute released Monday.

Worldwide assets hit $19.41 trillion this quarter, despite a 53% drop in net new cash flow between the first and second quarters. Much of the $206 billion in new cash during the second quarter came from money market funds, with inflows of $71 billion, or more than double that of first quarter.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.