Global long-term mutual funds experienced aggregate net redemptions of US$129 billion during the month of December. Local Asia and Latin America were the only regions to post positive flows, with approximately US$49 billion and US$10 billion in net deposits. Meanwhile, the U.S. saw the largest aggregate redemption of any region, with US$129 billion in net outflows, followed by Crossborder with US$47 billion and Local Europe with US$11 billion in net redemptions.
Passively managed funds garnered US$88 billion in new investor money, while active funds experienced outflows of US$217 billion. Investors in the U.S. were the largest benefactors of passive funds, with approximately $54 billion in aggregate contributions, however, this was offset by US$184 billion redeemed from the active funds.
BlackRock was once again the best-performing manager in the month of December, with US$36 billion in net new cash. BlackRock’s best-selling fund, the iShares 1-3 Year Treasury Bond ETF, attracted approximately US$3 billion in new investor money. The fund has about US$21 billion in assets under management as of December 2018.