WASHINGTON — President Barack Obama collected $86 million combined for his re-election campaign and the Democratic party during the past three months, giving him a large fundraising advantage over the Republican field seeking to challenge him in 2012.

Obama campaign manager Jim Messina said in a video posted early today that it raised more than $47 million and the Democratic National Committee brought in more than $38 million through the end of June, building a foundation for advertising and get-out-the-vote efforts in next year’s election. Obama’s team had set a goal of $60 million combined.

As expected, the fundraising totals outpace Republicans, who have collectively raised about $35 million so far, although some candidates have yet to release their results. At the same time in 2007, 10 GOP presidential hopefuls had raised more than $118 million, according to the Center for Responsive Politics.

Former Massachusetts Gov. Mitt Romney leads the GOP field in fundraising, pulling in more than $18 million in the past three months. An independent fundraising group supporting Romney’s presidential bid has raised $12 million.

Following Romney, former Minnesota Gov. Tim Pawlenty collected $4.2 million and former Utah Gov. Jon Huntsman brought in $4.1 million, with about half coming from his personal wealth.

Minnesota Rep. Michele Bachmann, a tea party favorite, has not yet released her fundraising totals.