Assets invested in mutual funds grew to $1.913 trillion in September. the Investment Company Institute reported.

That's an increase of about $10 billion from August, when fund assets totaled $1.903 trillion.

According to the Washington-based mutual fund trade group, gross sales of stock and bond funds totaled $43.3 billion in September. slightly weaker than the $45.6 billion level of August.

Bond funds held $733.4 billion of assets, up from $724.2 billion in August. Stock fund assets reached $632 billion in September, up from $619.7 billion.

But money-market mutual fund assets declined. Taxable money-market fund assets totaled $448.4 billion in September, down from $459.2 billion the prior month. And tax-exempt money-market funds held $99.4 billion in September, slightly below August's $100.3 billion level.

Mutual fund assets have grown 25% since September 1992, when they totaled $1.532 trillion, the institute said.

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