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Investors redeem USD6.3bn from long-term mutual funds in November


Investors redeemed a net USD6.3 billion from long-term mutual funds in November, according to figures released by MorningStar. With one month remaining in 2011, year-to-date inflows for long-term funds are down 70 per cent from inflows of USD244.1 billion seen in the full year of 2010.

Taxable-bond funds dominated the broad asset classes in November with inflows of USD10.2 billion. The intermediate-term bond category alone saw inflows of USD8.5 billion.

Municipal-bond funds experienced their best month since August 2010 with inflows of USD3.1 billion.

US-stock funds saw steady outflows across the major categories again in November. The asset class lost USD12.5 billion to outflows during the month, with large-cap offerings sustaining the worst losses.

International-stock funds, with outflows of USD4.3 billion, had their worst month since May 2010. Diversified emerging-markets stock funds remained a bright spot for the asset class, though, attracting nearly USD740 million in November for the category’s ninth consecutive month of inflows.


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