Global assets in mutual funds climbed 7.5% to US$19.11 trillion at the end of the first quarter, according to the Investment Company Institute. Equity funds assets accounted for nearly half (48%) of the total assets, followed by bond funds (19%), money market funds (18%) and balance/mixed fund assets (9%). The ICI found that net inflows to equities in North and South America hit US$102 billion in the quarter, while Europe saw an increase of US$100 billion, and Asia/Pacific and Africa reported US$45 billion in net inflows. Bond funds saw an inflow of US$65 billion, after experiencing outflows in the fourth quarter, while money markets took in only US$28 billion after the fourth quarter of 2005 ended with US$81 billion more. Balance fund flows reached $74 billion, more than double the $34 billion of last year’s fourth quarter. The jump is being attributed to net inflows in Europe, where they surged from $19 billion in 4Q to $57 billion.