ICI.org – Washington, DC, – The combined assets of the nation’s mutual funds increased by $85.61 billion, or 0.5 percent, to $15.90 trillion in May, 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

	May 2016	Apr 2016	% change	May 2015
Total long-term	13,198.5	13,101.1	0.7	13,727.8
Equity	8,261.8	8,186.3	0.9	8,757.2
Domestic equity	6,120.6	6,034.8	1.4	6,458.1
World equity	2,141.2	2,151.5	-0.5	2,299.1
Hybrid	1,366.5	1,361.3	0.4	1,428.1
Bond	3,570.1	3,553.5	0.5	3,542.5
Taxable bond	2,936.2	2,928.5	0.3	2,967.6
Municipal bond	634.0	625.0	1.4	574.9
Total money market	2,705.6	2,717.4	-0.4	2,602.1
Taxable money market	2,497.4	2,503.1	-0.2	2,357.9
Tax-exempt money market	208.2	214.3	-2.8	244.2
Total	15,904.1	15,818.5	0.5	16,329.9

* 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

	May 2016	Apr 2016	Jan–May 2016	Jan–May 2015
Total long-term	-6,595	-4,424	-8,634	78,445
Equity	-18,084	-23,665	-47,765	21,723
Domestic equity	-17,665	-19,213	-64,071	-36,692
World equity	-419	-4,452	16,306	58,415
Hybrid	-1,403	262	-10,074	11,063
Bond	12,892	18,979	49,204	45,659
Taxable bond	5,593	13,400	21,958	37,181
Municipal bond	7,299	5,579	27,247	8,478
Total money market	-10,633	-37,544	-47,119	-125,369
Taxable money market	-4,559	-26,407	293	-108,773
Tax-exempt money market	-6,073	-11,137	-47,412	-16,596
Total	-17,228	-41,968	-55,753	-46,924

* 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 outflow of $6.59 billion in May, versus an outflow of $4.42 billion in April.

Equity funds posted an outflow of $18.08 billion in May, compared with an outflow of $23.66 billion in April. Among equity funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $419 million in May, versus an outflow of $4.45 billion in April. Funds that invest primarily in the United States had an outflow of $17.67 billion in May, versus an outflow of $19.21 billion in April. The liquidity ratio of equity funds (the percentage of liquid assets over total net assets) was 3.4 percent in May, unchanged from April.

Hybrid funds posted an outflow of $1.40 billion in May, compared with an inflow of $262 million in April.

Bond funds had an inflow of $12.89 billion in May, compared with an inflow of $18.98 billion in April. Taxable bond funds had an inflow of $5.59 billion in May, versus an inflow of $13.40 billion in April. Municipal bond funds had an inflow of $7.30 billion in May, compared with an inflow of $5.58 billion in April.

Money market funds had an outflow of $10.63 billion in May, compared with an outflow of $37.54 billion in April. In May funds offered primarily to institutions had an inflow of $667 million and funds offered primarily to individuals had an outflow of $11.30 billion.

Number of Mutual Funds

	May 2016	Apr 2016	May 2015
Total long-term	7,682	7,667	7,480
Equity	4,784	4,776	4,694
Domestic equity	3,266	3,265	3,260
World equity	1,518	1,511	1,434
Hybrid	725	722	681
Bond	2,173	2,169	2,105
Taxable bond	1,596	1,592	1,547
Municipal bond	577	577	558
Total money market	450	456	520
Taxable money market	321	327	359
Tax-exempt money market	129	129	161
Total	8,132	8,123	8,000

* 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.