Release: Trends in Mutual Fund Investing

Trends in Mutual Fund Investing
November 2024

Washington, DC; December 30, 2024—The combined assets of the nation’s mutual funds increased by $971.36 billion, or 3.4 percent, to $29.14 trillion in November, 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

* 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

* 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 $53.54 billion in November, versus an outflow of $56.96 billion in October.

Equity funds posted an outflow of $55.64 billion in November, compared with an outflow of $82.35 billion in October. Among equity funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $1.52 billion in November, versus an outflow of $14.43 billion in October. Funds that invest primarily in the United States had an outflow of $54.12 billion in November, versus an outflow of $67.91 billion in October. The liquidity ratio of equity funds (the percentage of liquid assets over total net assets) was 1.8 percent in November, compared with 1.7 percent in October.

Hybrid funds posted an outflow of $12.23 billion in November, compared with an outflow of $8.76 billion in October.

Bond funds had an inflow of $14.33 billion in November, compared with an inflow of $34.15 billion in October. Taxable bond funds had an inflow of $11.39 billion in November, versus an inflow of $28.56 billion in October. Municipal bond funds had an inflow of $2.94 billion in November, compared with an inflow of $5.59 billion in October.

Money market funds had an inflow of $156.85 billion in November, compared with an inflow of $101.61 billion in October. In November funds offered primarily to institutions had an inflow of $129.87 billion and funds offered primarily to individuals had an inflow of $26.98 billion.

Number of Mutual Funds

* 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.

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