Assets Crest Record $10 Trillion Mark

Exchange-traded funds may be grabbing most of the headlines these days, but mutual funds are still pulling in the big bucks.

The U.S. mutual fund industry crossed the $10 trillion threshold for the first time in October, when the combined assets of the nation's open-end funds rose by $286.6 billion, or 2.9%, to $10.013 trillion, according to the Investment Company Institute, a Washington, D.C., trade group.

The data include assets in stock funds, hybrid funds, long-term bond funds and money market funds.

By comparison, ETF assets rose 9.4% to $383.3 billion in October from $350.3 billion in September, according to ICI. (Mutual funds themselves are big investors in ETFs, but the ICI strips out these holdings to avoid double-counting assets.) ...