CHICAGO, Aug. 22, 2018 /PRNewswire/ — Morningstar, Inc. (NASDAQ :MORN ), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for July 2018. In July, investors placed $14.1 billion into passive U.S. equity funds, compared with outflows of $3.7 billion in the previous month. On the active front, investors pulled $11.2 billion, compared with $17.1 billion of outflows as reported last month. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.
Morningstar’s report about U.S. asset flows for July 2018 is available here. Highlights from the report include:
- Following June’s $22.1 billion in outflows, long-term U.S. open-end and exchange-traded funds rebounded modestly with an estimated $32.1 billion in inflows in July.
- The leading category group in July was taxable-bond funds, with $24.8 billion in inflows and more than two thirds of which came from passive funds.
- Actively-managed funds saw outflows in every major category group except for taxable bond and municipal bond. Across all groups, active market share dropped to 62.4 percent from 64.6 percent year over year.
- Within Morningstar categories, ultrashort-bond was the most popular with $6.8 billion in inflows. World large-stock and large-growth categories were the least popular, each with approximately $3.0 billion in outflows.
- Among top U.S. fund families, both Vanguard and State Street Advisors SPDR funds had their strongest inflows since January. Vanguard led the pack with $15.4 billion in inflows while Franklin Templeton continued to see outflows on the active side of $2.7 billion. State Street’s $10.5 billion of inflows ranked second across families for highest July inflows.
- Among all U.S. open-end mutual funds and ETFs, iShares MSCI EAFE ETF and JPMorgan Global Research Enhanced Index Fund both saw the greatest outflows this month, at $1.4 billion each. This happened in a month when the U.S. equity Morningstar Category saw higher inflows than the international equity category, a relative rarity in recent years.
To view the complete report, please click here.
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About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $203 billion in assets under advisement and management as of June 30, 2018. The company has operations in 27 countries.
Morningstar’s Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar’s Manager Research Group’s current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Analyst Ratings are not guarantees nor should they be viewed as an assessment of a fund’s or the fund’s underlying securities’ creditworthiness. This press release is for informational purposes only; references to securities in this press release should not be considered an offer or solicitation to buy or sell the securities.
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