US long-term fund returns and ETFs US$4.8bn in November 2015

Monthly Highlights - November 2015 Report

Key highlights:

Net redemptions from long-term mutual funds and exchange-traded products totalled US$4.8 billion in November. US Equity funds saw outflows of U$7 billion during the month on U$25 billion of net redemptions from active products and inflows of US$18 billion to index funds. International Equity products netted US$4.8 billion during the month, lifting year-to-date net inflows to US$214 billion.

Taxable Bond fund net redemptions totaled US$5.5 billion in November. Corporate High Quality (US+$1.2 billion) was preferred to Corporate High Yield (US-$3.2 billion) as investors prepare for a widely anticipated rate hike in December. Year-to-date Taxable Bond funds have attracted US$53 billion of net new investment. Tax-Free Bond funds netted US$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 US$10.7 billion in November.