Stable inflows and outflows - Monthly US Fund Highlights - April 2019

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Active long-term outflows heightened during April, reaching levels of US$16.8 billion following net investor withdrawals of US$6.9 billion in March.

Net deposits into passive funds grew from $44.9 billion in March to US$51.2 billion in April. ETFs grew net inflows to US$29.0 billion from US$21.8 billion in March and were the leading inflow passive vehicle for the month. Mutual fund inflows were mostly in line with the previous month, garnering US$22.2 billion in April and US$23.1 billion in March.

Taxable Bond funds held a wide lead in the year-to-date period through April when combining active and passive funds. Net inflows totaled US$138.3 billion, compared to US$35.3 billion for the next highest inflow fund type, Municipal Bond. Passive funds led within Taxable Bond at US$85.2 billion of inflows for the YTD period, while active funds accounted for nearly all Municipal Bond inflows at US$33.6 billion.

Money Market funds experienced greater outflows in April (US$18.7 billion) than they had in March (US$10.1 billion). Prime Money Market funds led inflows at US$7.0 billion, while Taxable Money Market funds accounted for the spike in outflows at US$20.7 billion. Money Market funds continued to see positive net inflows during the YTD period at US$12.5 billion.