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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.
All reports are in PDF format [download
Acrobat Reader]
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Monthly Highlights: May 2013 |
5/19/2013 |
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Long-term funds attracted $56 billion in May, increasing year-to-date net intake to $350 billion. Demand for US Equity funds surged to $16 billion (weighted average returns of 1.9% for May; 24.5% over one-year), driven by positive economic news on employment and housing fronts. Passive US Equity funds netted $15 billion, or more than 90% of total intake. Among active US stock funds, income-producing, alternative and flexible strategies led net flows.
Flows into International Equity funds increased to $17 billion in May, although investors suffered weighted average monthly losses of 1.5% due to global growth concerns. Taxable Bond funds attracted $23 billion in May, led by strategies that would be more amenable to rising interest rates such as floating rate and short duration. Redemptions from government-focused funds increased amid speculation that the Fed will moderate its bond buying program in the near future. ETPs netted $20.9 billion during May, bringing quarterly net inflows to $82 billion. |
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Monthly Highlights: April 2013 |
5/17/2013 |
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In April long-term funds netted $48 billion, bringing year-to-date net intake to $293 billion. Flows into US Equity funds (monthly weighted average returns of 1.3%), decreased by roughly two-thirds on a monthly basis to $10 billion in April amid reports of mediocre economic growth. In a turnaround from the first three months of 2013, passive US Equity funds netted nearly double ($6.3 billion) the intake of active funds ($3.2 billion) in April. Compared to last year, year-to-date flows into actively managed Emerging Markets and growth-oriented strategies have risen considerably due to investor confidence in the commitment of central banks to maintaining loose monetary policy and stabilizing global growth. Taxable Bond funds attracted $28 billion in April, increasing year-to-date intake to $109 billion, attributable to stable demand for Corporate and Global-oriented strategies. ETPs netted $7.9 billion during April (including open-end exchanged traded funds, unit investment trusts and exchange traded notes), bringing quarterly net inflows to $61 billion. |
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Monthly Highlights: March 2013 |
4/15/2013 |
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Long-term funds attracted nearly $250 billion during the first quarter, setting a new quarterly flows record. US Equity investors benefitted from a 9.4% weighted average return during the first quarter, as positive labor and housing statistics were released. US Equity funds netted $77 billion during the quarter, $48 billion of which was passively managed. Actively managed US Equity funds attracted $29 billion during the quarter, led by non-traditional and income-generating strategies. During the first quarter, $58 billion (72%) of the $81 billion of Taxable Bond fund inflows went to Corporate-oriented bond funds. Increasing demand for high current income and protection from a potential rise in rates, combined with declining interest in Treasuries were evident themes among Taxable Bond Fund flows. Approximately $15.1 billion flowed into ETPs during March, bringing quarterly net inflows to $53 billion. Money market funds experienced $96 billion of net redemptions during the quarter. Over the past three years $415 billion has been withdrawn from money markets. |
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Monthly Highlights: February 2013 |
3/15/2013 |
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The first quarter will break another record for the fund industry, as long-term net inflows are projected to surpass $200 billion. Long-term funds netted $62 billion (including ETPs) in February, bringing year-to-date flows to $182 billion. More than $50 billion flowed into US Equity funds during the first two months, more than double the same period the prior year. Of the $5 billion that flowed into active managed US funds during the month, alternative, dividend income, and Midcap equity funds led net intake. Among active international/global equity funds, International Emerging Markets Equity, International Growth, and Global Asset Allocation led monthly net flows. Taxable Bond funds attracted $21 billion in February, again highlighting the persistent interest for income-generating products. Corporate-oriented bond funds attracted $14.3 billion while international/global-oriented bond funds netted $8.8 billion during the month. Flows into ETPs slowed to $8.3 billion in February, as compared to January's near record inflows of $30 billion. |
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Monthly Highlights: January 2013 |
2/27/2013 |
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Long-term funds netted $120 billion (including ETPs) during January across an array of strategies and asset classes.
US Equity investors benefited from a 5% weighted average return during the month, resulting from encouraging statistics on domestic and global fronts. Actively managed US Equity funds attracted the highest monthly net flows in nearly a decade, in the amount of $15.3 billion. Demand for Equity Income continued in January, complemented by renewed interest in Mid Cap and Small Cap strategies.Taxable Bond funds attracted $35 billion in monthly net flows, significantly driven by Corporate-oriented funds ($25.6 billion for the month). US Government-focused Bond funds aggregately experienced $4.7 billion in net outflows, as demand for credit safety is replaced by rising interest rate concerns. Nearly $30 billion flowed into ETPs (including open-end exchanged traded funds, unit investment trusts and exchange traded notes) during the month. |
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