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: 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.
   
Monthly Highlights: October 2015      11/12/2015
  Net new investment to long-term mutual funds and exchange-traded products totaled $31.7 billion in October. Equity products netted $10.4 billion on $14.3 billion of inflows to US Equity ETFs. Actively managed sector-specific US Equity offerings saw $753 million of inflows during the month. International Equity funds captured $7.6 billion, including $1.6 billion of inflows to actively managed growth-oriented strategies. Taxable Bond funds attracted a net $18.3 billion during the month on demand for US corporate bond funds with high yield and intermediate maturity themes. Tax-Free Bond funds netted $3 billion in October. Equity markets rallied in October producing strong positive monthly average returns for US and International Equity funds of 7.0% and 6.4%, respectively. Asset weighted average returns for Bond funds were also positive, with Taxable products averaging 0.8%. Net deposits to Money Market funds totaled $47.7 billion in October.
   
Monthly Highlights: September 2015      10/13/2015
  Long-term mutual funds and exchange-traded products experienced net redemptions totaling $16.6 billion in September. Monthly net outflows from Equity products totaled $6.9 billion, on $10.7 billion of net redemptions from US Equity. Driven by outflows from diversified active large-cap funds, active US Equity mutual funds saw outflows of $14.7 billion on the month. International Equity funds captured $3.8 billion in September, with index mutual funds netting $5.6 billion. Taxable Bond funds redeemed a net $9.4 billion in September on outflows from Global and High Yield strategies. Government Short Maturity funds netted $3.3 billion during the month. Despite quarterly outflows of $27 billion from bond funds, year-to-date bond mutual funds and ETFs have attracted $46.9 billion. Equity markets ended the month lower again in September. While small and mid-cap stocks were hardest hit during the month, the declines sent one-month average fund returns negative for US Equity (-3.2%) and International Equity (-3.6%). Taxable Bond fund average returns were also in the red, returning -0.7%. Net redemptions from Money Market funds totaled $11.5 billion in September.