Substantial outflows - US Monthly Fund Highlights - March 2019

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Active long-term flows experienced a substantial reversal in flows for the month, seeing outflows of US$9.2 billion after inflows of US$12.0 billion in February.

Passive net flows in March saw a minor increase over February, growing to US$44.9 billion from US$42.3 billion the prior month. Mutual funds held the lead among indexed vehicles at US$23.1 billion, though ETFs were close behind at US$21.8 billion. Both saw minor increases from the past month at US$21.8 billion and US$20.5 billion, respectively.

Taxable Bond flows across active and passive funds passed US$100 billion during the first quarter of the year. Active flows amounted to $34.4 billion and passive inflows totalled US$66.8 billion, leading to US$101.2 billion overall in Q1’19.

Money Market fund flows experienced a significant reversal during March. Net redemptions spiked to US$14.0 billion in March after positive inflows of US$36.7 billion in February. Taxable Money Market flows were primarily responsible for this turnaround, as they experienced outflows of US$16.1 billion in March after net deposits of US$19.4 billion in February.