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Active US equity funds see USD21.7 billion outflows in June

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Active US equity funds posted an estimated USD21.7 billion in outflows during June as all active category groups – except municipal bonds – saw negative flows, according to Morningstar.

Meanwhile, all passive category groups experienced inflows, except for alternatives.
 
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.
 
Investors withdrew USD56 million from international equity funds while the MSCI Europe, Australasia, and Far East (EAFE) Index declined 3.4 per cent in June.
 
Flows into commodities spiked again in June, fuelled by precious-metals funds, with the majority of flows into gold ETFs. SPDR Gold Shares led the way with an estimated net inflow of USD3.5 billion.
 
The intermediate-term bond and foreign large blend fund categories garnered the most flows for the second month in a row, taking in USD10.8 billion and USD5.8 billion, respectively.
 
Of the top 10 US fund families, State Street and Vanguard were the only firms to see flows into active strategies in June, raking in USD238 million and USD3.3 billion, respectively. Vanguard and BlackRock/iShares led flows into passive strategies during the month, with USD16.8 billion and USD9.9 billion, respectively.
 
American Funds American Balanced, which has a Morningstar Analyst Rating of Silver, led flows into active funds in June, garnering USD1.2 billion during the month.

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