Some $938.9 million poured into unit investment trusts in July, bringing their total for the first seven months of the year to $5.58 billion, according to the Investment Company Institute.
This compares with $5.23 billion for the same period last year, the Washington trade group said. Unit investment trusts are investment companies that buy fixed portfolios of stocks or bonds.
Deposits into equity trusts were $375.4 million, bringing them to $1.63 billion through July. This compares with $958.2 million through the same period last year.
Tax-free bond trusts grew by $442.9 million, bringing their total through July to $2.96 billion. This compares with $2.9 billion in the first seven months of 1992.