Equity funds saw outflows of $187 million for the week ending July 28, a strong reversal from inflows of $874 million funds during the prior week, according to fund research firm AMG Data.

TrimTabs, a rival fund-tracking firm, differed from AMG on the direction of fund flows, but still reported a moderation for the week. TrimTabs reported inflows of $681 million into equity funds, down nearly 50% from $1.4 billion the prior week.

AMG said domestic stock funds reported outflows of $545 million while international funds took in $358 million. TrimTabs saw U.S. equity inflows of $681 million vs. a zero flow for international funds.

"Inflows are steady but conservatively oriented," says Carl Wittnebert, director of research at TrimTabs. "Though there was some speculative interest in small-cap in June and July."

TrimTabs reported bond fund outflows of $1.1 billion, up from outflows of $700 million the prior week.

AMG says taxable bond funds reported net outflows of $526 million with the most, $370 million, coming from government bond funds investing in mortgage-backed securities. High-yield corporate bond funds saw outflows of $358 million and municipal bond funds reported outflows totaling $242 million, says AMG.

Money market funds reported outflows of $10.1 billion says AMG.