Sales of long-term mutual funds, i.e. equity and bond funds, rose by $11.14 billion in the week ended June 17, and for the week ended June 24, money market funds reaped $34.22 billion, the Investment Company Institute announced Thursday.
Equity funds had estimated inflows of $3.36 billion, down from the $5.04 billion they took in the previous week. Domestic equity funds saw inflows of $1.96 billion, while foreign equity funds saw inflows of $1.40 billion.
Bond funds netted $7.09 billion in inflows, up slightly from the $7.05 billion in inflows the previous week.
Of the additional $34.22 billion that money market funds reaped, for a total of $3.709 trillion, taxable government funds increased by $25.85 billion, and tax-exempt funds decreased by $3.45 billion.
Assets of retail money market funds decreased by $6.55 billion to $1.229 trillion, and assets of institutional money market funds increased by $40.77 billion to $2.480 trillion.