Mutual fund net sales came in at $4.7 billion for the month.
Bond mutual funds accounted for the bulk of the net sales, at $3.5 billion. Specialty mutual funds took in $846 million, money market mutual funds received $399 million and balanced mutual funds gathered a meagre $49 million.
Equity mutual funds, on the other hand, suffered $171 million in net redemptions.
Meanwhile, the report noted that “ETF assets surpassed $600 billion for the first time on record.” They totalled $611.4 billion at the end of July, an increase of 3.2% or $19.2 billion since June.
ETF net sales were $10.3 billion in July.
Equity ETFs made up more than half of the net sales, at $6.6 billion. Bond ETFs took in the second highest level of net sales, at $1.5 billion, followed by specialty ETFs at $1.3 billion and balanced ETFs at $1.1 billion.
Those gains were slightly offset by money market ETFs, which recorded $153 million in net redemptions.
Also, both mutual funds and ETFs outshined their sales performances by the same point last year. By the end of July, mutual fund net sales amounted to $21.7 billion, compared to just $1.2 billion at the same point in 2024.
Meanwhile, ETF net sales were $66 billion by the end of this July, compared to $37.3 billion at the same point a year ago.