Investors pulled $20.4 billion out of stock mutual funds in October, 52% more than the $13.4 billion they withdrew in September, according to the Investment Company Institute’s monthly survey of the mutual fund industry. But most of that money went back into bond funds and hybrid funds, which took in a combined $16.3 billion for the month.

Of the stock funds’ outflow of $20.4 billion, the vast majority ($18 billion) came from those funds that invest primarily in the U.S. World equity funds—U.S. stock funds that invest primarily overseas—in contrast, posted an outflow of $2.4 billion.

The monthly survey incorporates the assets, sales and redemptions reported to ICI by mutual fund companies. And it shows that long-term funds—stock, bond and hybrid funds—had a net outflow of $4.1 billion in October, compared with an outflow of $2.6 billion in September.

Despite the outflows, the combined assets of the nation’s mutual funds increased by $606.5 billion, or 5.5%, to $11.7 trillion in October, ICI reports. 

The hybrid and bond funds’ inflows continued from the previous month. Hybrid funds took in $4.9 billion in October, compared to $1.2 billion in September. And bond funds saw $11.4 billion in new cash, compared to an inflow of $9.6 billion in September. 

Money market funds, for their part, posted an outflow of $22.50 billion in October, compared with an outflow of $10.69 billion in September.

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