Trends in Mutual Fund Investing: December 2025

WASHINGTON, Jan. 29, 2026 /PRNewswire/ -- The combined assets of the nation's mutual funds increased by $79.86 billion, or 0.3 percent, to $31.38 trillion in December, 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

Net New Cash Flow of Mutual Funds*
Millions of dollars

Highlights: Long-term funds—equity, hybrid, and bond funds—had a net outflow of $142.46 billion in December, versus an outflow of $80.98 billion in November.

Equity funds posted an outflow of $148.80 billion in December, compared with an outflow of $80.41 billion in November. Among equity funds, world equity funds (U.S. funds that invest primarily overseas) posted an outflow of $33.95 billion in December, versus an outflow of $7.27 billion in November. Funds that invest primarily in the United States had an outflow of $114.84 billion in December, versus an outflow of $73.14 billion in November. The liquidity ratio of equity funds (the percentage of liquid assets over total net assets) was 1.4 percent in December, compared with 1.6 percent in November.

Hybrid funds posted an outflow of $8.76 billion in December, compared with an outflow of $8.21 billion in November.

Bond funds had an inflow of $15.10 billion in December, compared with an inflow of $7.64 billion in November. Taxable bond funds had an inflow of $13.68 billion in December, versus an inflow of $7.40 billion in November. Municipal bond funds had an inflow of $1.42 billion in December, compared with an inflow of $244 million in November.

Money market funds had an inflow of $156.81 billion in December, compared with an inflow of $93.16 billion in November. In December funds offered primarily to institutions had an inflow of $118.96 billion and funds offered primarily to individuals had an inflow of $37.85 billion.

Number of Mutual Funds

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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SOURCE Investment Company Institute