Total estimated inflows to long-term mutual funds were $6.91 billion for the week ended Wednesday, May 9, according to the Investment Company Institute (ICI). This intake is a dramatic increase from the $2.2 billion gathered during the prior week. Although Equity funds continued in the red, the $2.4 billion in net outflows among Domestic Equity funds was an improvement from the nearly $5.5 billion in outflows during the prior week. World Equity garnered $1.1 billion—another uptick from the $142 million gathered during the prior week. Taxable Bond continued to drive sales with nearly $6.1 billion, while Municipal Bond took in $1.5 billion. Hybrid funds posted $617 million in net inflows compared to $36 million during the prior week.
Source: Investment Company Institute