Mutual fund assets dip nearly 1 percent in July

The total fell to nearly $11.59 trillion as long-term funds--those holding stocks, bonds and hybrids containing a mix of both investments--saw about $26 billion flow out in July compared with June, according to the Washington-based industry group's latest survey.

Stock funds, which have been hit by recent market declines that have eroded fund assets, posted an outflow of nearly $26.4 billion in July. Bond funds had an inflow of nearly $1.8 billion, offset by an outflow of nearly $1.5 billion from hybrid funds.

Money market funds--which have recently gained in popularity as investors have sought safe alternatives to more volatile stocks--reported an inflow of $79.4 billion in July.