Monthly Highlights


Every month we provide a snapshot of fund industry results and developments, using the latest available data from Strategic Insight, which is released roughly three weeks after each month-end

Clients can select from the latest Highlights below or from the list of all Monthly Highlights.


Monthly Highlights: March 2016      4/13/2016
  Net deposits to long-term mutual funds and ETFs totaled $46.7 billion in March, lifting quarterly long-term non-VA 40 Act fund flows to +$54.3 billion. Passive funds continued to drive inflows, attracting $47.4 billion during the month and totaling $83.4 billion on the quarter. US Equity funds netted $7.4 billion during March, ending the month in positive net flow territory for the second time in the trailing twelve months. Outflows from active US Equity persisted, totaling $13.6 billion in March. International Equity funds netted $2.6 billion on demand for index ETFs and mutual funds; passive emerging market stock funds attracted $5.8 billion during the month. Among broad asset classes, Taxable Bond funds led monthly net inflows, collecting $31.1 billion on strong demand for both active and passive corporate bond exposure. Municipal Bond funds continued to see steady positive net investment, attracting $5.6 billion during the month and lifting quarterly net inflows to $16 billion. As of March, net new investment to bond funds year-to-date totals $55.7 billion. Monthly net redemptions from money-market funds totaled $13.4 billion.
   
Monthly Highlights: February 2016      3/15/2016
  Net new investment to long-term mutual funds and ETFs totaled $16.1 billion in February. Demand for index funds persisted, as passive stock and bond funds netted $19.9 billion. Net outflows from active funds totaled $3.9 billion during the month. Equity funds attracted $1.2 billion in February on $4.7 billion of net inflows to International/Global funds. Active International Equity mutual funds netted $6 billion during the month, led by diversified ex-US equity funds. Large-capitalization US stock strategies continued to drive aggregate net outflows from active US Equity funds. Among passive Equity products, high-inflow strategies during the month included diversified US Equity Growth & Income funds (+$5.9 billion) and Gold ETFs (+$5.2 billion). Monthly net investment to Bond funds totaled $14.9 billion. Taxable Bond funds netted $9.5 billion, driven by $12.8 billion of net inflows to index funds. Top-inflow objectives in February included Corporate Intermediate Maturity (+$6.5 billion), Corporate High Yield (+$4.8 billion), and Corporate Bond General (+$4.6 billion). Tax-Free products continued to steadily attract new investment totaling $5.4 billion. Money-Market mutual fund net deposits totaled $38.8 billion in February.
   
Monthly Highlights: January 2016      2/11/2016
  Net redemptions from long-term mutual funds and ETFs totaled $8.2 billion in January. Passive funds continued to drive demand for stock and bond exposure, attracting $16 billion during the month. Index Equity mutual funds netted +$20.6 billion in January, while monthly net redemptions from Equity ETFs totaled $13.7 billion. Among active funds, outflows from US Equity totaled $23 billion during the month. Active International Equity attracted $3.6 billion on continued demand for foreign large-cap exposure and managed futures strategies. A selloff in stock markets sparked by concerns in the global economic environment sent one-month average US and International Equity fund returns sharply lower at -5.8% and -5.5%, respectively. Bond funds attracted net new investment of $4.3 billion in January on $12.1 billion of net inflows to index ETFs. Tax-Free Bond funds netted $5.2 billion on the month (including $4.5 billion to active funds), while returning an average 1.0%. Government-oriented investment strategies led among taxable products, attracting a net $9.9 billion and returning an average 1.3% in January. Monthly net redemptions from money-market funds totaled $21 billion.
   
Monthly Highlights: December 2015      1/18/2016
  Long-term mutual funds and ETFs attracted $158 billion of net new investment in 2015, despite $40 billion of outflows in December. Equity funds netted $113 billion during the year, as $203 billion of inflows to International Equity offset $90 billion of net redemption from US stock funds. Assets in Equity, Hybrid, and Alternatives totaled $10.1 trillion at year-end 2015. $44 billion of inflows to fixed income strategies was split between Taxable (+$24 billion) and Tax-Free (+$20 billion) products in 2015. Monthly flows to Taxable Bond funds were mixed during the year, before outflows accelerated at year-end, with $28.2 billion of net redemptions in December. As of December 2015, assets in bond funds totaled $3.7 trillion. Calendar-year returns for major US stock indices were mixed in 2015 and as a result average US Equity fund returns were relatively flat on the year at -0.55%. International stock indices were mostly negative on the year, as International Equity strategies in aggregate averaged -3.30% in 2015. Tax-Free Bond funds led calendar year returns among broad asset classes, generating a 3.03% average return during the year. Net deposits to money market funds totaled $35 billion in December. With annual net intake of $15.5 billion, money market assets totaled $2.6 trillion as of December 2015.
   
Monthly Highlights: November 2015      12/14/2015
  Net redemptions from long-term mutual funds and exchange-traded products totaled $4.8 billion in November. US Equity funds saw outflows of $7 billion during the month on $25 billion of net redemptions from active products and inflows of $18 billion to index funds. International Equity products netted $4.8 billion during the month, lifting year-to-date net inflows to $214 billion. Taxable Bond fund net redemptions totaled $5.5 billion in November. Corporate High Quality (+$1.2 billion) was preferred to Corporate High Yield (-$3.2 billion) as investors prepare for a widely anticipated rate hike in December. Year-to-date Taxable Bond funds have attracted $53 billion of net new investment. Tax-Free Bond funds netted $2.9 billion during the month. One-month Equity fund returns were mixed in November, with US Equity funds returning a weighted average +0.4% and International Equity averaging -1%. Bond fund returns were also split, with Taxable products averaging -0.4% and Tax-Free products benefitting modestly at +0.4%. Net deposits to Money Market funds totaled $10.7 billion in November.