WASHINGTON Assets in mutual funds decreased by 1.2%, to $6.943 trillion, in June, according to the Investment Company Institute.
Assets in stock funds, hybrid funds, and taxable money market funds went down slightly from Mays totals. Stock-fund assets were at $3.677 trillion, down 1.8%, and hybrid funds, at $349 billion, were down 1.2%. Money market funds, at $248 billion, slid by 1%.
Assets in taxable bond funds, municipal bond funds, and tax-free money market funds, however, increased by 0.1%, 0.8%, and 0.6%, respectively.
Net new cash flow into money market funds also reversed in June. Total money fund assets dropped by over $24 billion during June, whereas in May, $35 billion of assets flowed into the funds.
