Mutual funds managed to bounce back from the massive $4.9 billion outflow they endured mid May, according to the latest statistics from the Investment Company Institute. For the week ended May 30, investors steered an estimated $1.63 billion into mutual funds, a reversal from the previous week’s sizable outflow. Still, the infusion was the smallest so far this year.

Equity funds, which have taken the brunt of the outflows all year, surprisingly took in the bulk of the $1.63 billion this time, posting an estimated $1.49 billion in inflows for the week. Of the $1.49 billion, $807 million went to U.S. stock funds, reversing a 15-week stint of consecutive outflows totaling more than $45 billion.

In another stunning reversal, bond funds posted their first outflow this year, losing an estimated $317 million. Taxable bond funds lost approximately $920 million in outflows while municipal bond funds took in $603 million.

Hybrid funds — those that invest in both stocks and fixed income securities — received $460 million in estimated inflows. They posted $695 million in outflows a week earlier.

The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI.  The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.

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