Global long-term mutual funds recorded US$58 billion in net new money during the month of June. Crossborder led with US$24 billion, followed by the U.S. and Latin America, with US$14 billion and US$11 billion in net flows, respectively. Local Asia and Local Europe had positive inflows with a combined US$9 billion.
Passively managed funds garnered US$74 billion in new investor money, while actively managed funds experienced outflows of US$16 billion. Investors in Crossborder were the largest benefactors of active funds, contributing an aggregate US$17 billion in net new money. Overall, bond funds attracted the most investor demand out of any asset class, with $90 billion in net subscriptions.
BlackRock was the best-performing manager during the month, with US$27 billion in net new cash. Nearly 17% of BlackRock’s aggregate flows were due to its best-selling fund, the iShares iBoxx $ Investment Grade Corporate Bond ETF, which attracted approximately US$4.5 billion in new investor money. The fund offers investors exposure to a broad range of U.S. investment grade corporate bonds.