Investors pulled a net $37.97 billion out of mutual funds in November, according to the latest numbers released today by the Investment Company Institute. Most of the outflows throughout the month came from equity funds and most of the inflows were posted by money market and fixed-income funds.

All told, the broad sample of more then 7,600 equity, fixed-income, hybrid and money market funds, ended the month with $11.61 trillion. That’s down less than a half a percentage point from the previous month’s level of $11.66 trillion.

Money markets had by far the biggest inflow for the month at $43.19 billion. Bond funds, meanwhile, posted an inflow of $18.6 billion. Within the bond-fund category, taxable bonds funds had an inflow of $15.6 billion and munis saw an inflow of $3 billion.

Stock funds posted an outflow of $18.9 billion, compared to an outflow of $20.4 billion the previous month. And hybrids posted an outflow of $4.9 billion.

Lee Conrad writes for Bank Investment Consultant.