Combined assets of the nation's mutual funds increased 4.0% for the month of July, rising $398.6 billion to reach $10.431 trillion, according to the Investment Company Institute.

Long-term funds had a net inflow of $46.70 billion in July, compared to an inflow of $43.05 billion in June.

Stock funds had in inflow of $9.77 billion in July, compared to June's inflow of $12.19 billion. Among stock funds, world equity funds had $6.98 billion in inflows in July, up slightly from their $6.51 billion in June inflows. Domestic stock funds had $2.79 billion in inflows in July, down from June's $5.69 billion in inflows.

Hybrid funds had inflows of $1.79 billion in July, down from $1.91 billion in June.

Bond funds had $35.14 billion in inflows in July, compared to $28.95 billion in June. Among bond funds, taxable funds had $27.83 billion in inflows in July, up from $23.57 billion the previous month. Municipal bond funds had $7.31 billion in inflows in July, up from $5.38 billion in June.

Money market funds had outflows of $47.14 billion in July, still less than the $116.42 billion in June outflows. Institutional funds had outflows of $18.13 billion in July, while retail mutual funds had outflows of $29.01 billion during the same period.

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