Perhaps the upcoming holiday brightened investors outlook –- sending long-term mutual fund inflows up nearly $7.2 billion to $11.3 billion for the week ended December 16, the latest report from the Investment Company Institute revealed
. For the previous week ended December 9, inflows totaled $4.16 billion.
Bond funds drove the upswing in flows, posting inflows of $10.01 billion, compared to estimated inflows of $4.15 billion for the previous week. Of the $10.01 billion, taxable bond funds accounted for $8.94 billion in inflows and municipal bond funds contributed $1.07 billion.
Hybrid fund flows were also up, reaching $1.03 billion in inflows this week, increasing from a more moderate $556 million for the previous week. Equity funds saw more mixed results, pulling in $289 million, compared to last week's slightly higher inflows of $546 million. Domestic equity funds saw outflows of $1.17 billion this week, while foreign equity funds had $1.46 billion in inflows.
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