www.ici.org

Trends in Mutual Fund Investing:
June 2020

Washington, DC; July 30, 2020—The combined assets of the nation’s mutual funds increased by $251.31 billion, or 1.2 percent, to $21.41 trillion in June, according to the Investment Company Institute’s official survey of the mutual fund industry. In the survey, mutual fund companies report actual assets, sales, and redemptions to ICI.

Total Net Assets of Mutual Funds*
Billions of dollars
  Jun 2020 May 2020 % change Jun 2019
Total long-term 16,776.0 16,391.2 2.3 16,672.3
   Equity 10,609.3 10,360.7 2.4 10,717.1
      Domestic equity 7,945.0 7,798.7 1.9 7,951.5
      World equity 2,664.3 2,562.0 4.0 2,765.6
   Hybrid 1,449.8 1,432.5 1.2 1,514.2
   Bond 4,716.9 4,598.1 2.6 4,441.0
      Taxable bond 3,911.1 3,814.6 2.5 3,687.1
      Municipal bond 805.7 783.5 2.8 753.9
Total money market 4,634.5 4,768.0 -2.8 3,201.4
   Taxable money market 4,504.8 4,634.2 -2.8 3,065.1
   Tax-exempt money market 129.7 133.8 -3.1 136.4
Total 21,410.5 21,159.2 1.2 19,873.8

* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.

Note: Components may not add to the total because of rounding.

Net New Cash Flow of Mutual Funds*
Millions of dollars
  Jun 2020 May 2020 Jan–Jun 2020 Jan–Jun 2019
Total long-term 1,525 1,825 -373,498 3,608
   Equity -63,055 -38,609 -234,646 -115,542
      Domestic equity -36,678 -25,350 -192,298 -93,245
      World equity -26,376 -13,259 -42,348 -22,297
   Hybrid -2,300 -2,724 -56,301 -23,545
   Bond 66,880 43,158 -82,551 142,695
      Taxable bond 55,705 38,014 -74,314 95,763
      Municipal bond 11,176 5,144 -8,236 46,932
Total money market -133,776 30,626 992,470 142,084
   Taxable money market -129,637 32,872 1,001,044 151,702
   Tax-exempt money market -4,139 -2,246 -8,574 -9,617
Total -132,251 32,451 618,972 145,692

* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.

Note: Components may not add to the total because of rounding.

Highlights: Long-term funds—equity, hybrid, and bond funds—had a net inflow of $1.53 billion in June, versus an inflow of $1.83 billion in May.

Equity funds posted an outflow of $63.05 billion in June, compared with an outflow of $38.61 billion in May. Among equity funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $26.38 billion in June, versus an outflow of $13.26 billion in May. Funds that invest primarily in the United States had an outflow of $36.68 billion in June, versus an outflow of $25.35 billion in May. The liquidity ratio of equity funds (the percentage of liquid assets over total net assets) was 2.4 percent in June, compared with 2.7 percent in May.

Hybrid funds posted an outflow of $2.30 billion in June, compared with an outflow of $2.72 billion in May.

Bond funds had an inflow of $66.88 billion in June, compared with an inflow of $43.16 billion in May. Taxable bond funds had an inflow of $55.70 billion in June, versus an inflow of $38.01 billion in May. Municipal bond funds had an inflow of $11.18 billion in June, compared with an inflow of $5.14 billion in May.

Money market funds had an outflow of $133.78 billion in June, compared with an inflow of $30.63 billion in May. In June funds offered primarily to institutions had an outflow of $124.01 billion and funds offered primarily to individuals had an outflow of $9.77 billion.

Number of Mutual Funds
  Jun 2020 May 2020 Jun 2019
Total long-term 7,431 7,452 7,653
   Equity 4,555 4,566 4,714
      Domestic equity 3,071 3,090 3,188
      World equity 1,484 1,476 1,526
   Hybrid 746 748 785
   Bond 2,130 2,138 2,154
      Taxable bond 1,578 1,585 1,604
      Municipal bond 552 553 550
Total money market 358 358 367
   Taxable money market 278 278 286
   Tax-exempt money market 80 80 81
Total 7,789 7,810 8,020

* Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.

About ICI’s Data

Data for prior dates reflect revisions due to data adjustments, reclassifications, and changes in the number of funds reporting. For more information about ICI data and classifications, please visit our FAQs.

If you have any questions or would like to request additional comments on this or data on another topic, please contact a member of ICI’s Media Relations team at one of the email addresses above.