Outflows again - US Monthly Fund Highlights Report: July 2018

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Active long-term funds continued to experience net outflows in July at US$9.7 billion, though this was an improvement over the US$18.3 billion in net redemptions that they had seen during June.

Passive funds saw net deposits increase significantly during July, growing to US$38.3 billion from US$6.0 billion in June. ETPs experienced the largest turnaround with inflows of US$23.0 billion in July against net flows of -US$5.1 billion in June. While experiencing greater month-to-month volatility, passive ETPs (US$119 billion) held a slight flow lead over passive mutual funds (US$114 billion) during the first seven months of 2018. 

Inflows to both active and passive offerings have helped Taxable Bond funds lead demand across fund types during the year-to-date period, with inflows of US$157.4 billion. Passive funds attracted $85.8 billion, compared to US$71.6 billion into active funds. 

Money Market funds recovered in July, experiencing positive inflows of US$10.2 billion after net withdrawals of US$33.3 billion in June. YTD flows remain negative at US$36.6 billion. Taxable Money Market funds led net deposits in July at US$18.3 billion.