Mutual funds took in $11.05 billion for the week ended July 22, up sharply from the $6.6 billion they netted the previous week, the Investment Company Institute said. The inflows were the highest since the week ended June 17, when long-term mutual funds took in $11.1 billion.
The bulk of the flows went to bond funds, which took in $8.17 billion, up from $7.51 billion the previous week. Equity funds took in $2.29 billion, whereas they lost $921 million the previous week. Hybrid funds took in $592 million, up from $23 million the previous week.