Global long-term mutual funds recorded US$23 billion in net new money during the month of March. The U.S. led with US$27 billion, followed by Crossborder and Latin America, with US$5 billion and US$4 billion in net flows, respectively. Meanwhile, Latin Asia and Local Europe suffered a combined US$14 billion in net redemption.
Passively managed funds garnered US$64 billion in new investor money while active funds experienced outflows of US$41 billion. Investors in Latin America were the only benefactors of active funds, contributing an aggregate US$4 billion in net new money. Overall, bond funds attracted the most investor demand out of any asset class, with US$73 billion in net subscriptions.
Vanguard was once again the best-performing manager during the month, with US$22 billion in net new cash. About 25% of Vanguard’s aggregate flows were due to its best-selling fund, the Vanguard Total Stock Market Index, which attracted approximately US$5 billion in new investor money. It offers investors exposure to U.S. stocks of all sizes.