Latin America sees US$12bn net redemptions - Global FlowWatch - April 2020

Global long-term mutual funds recorded US$42 billion in net new money during the month of April. Crossborder led with US$26 billion in net flows, followed by Local Asia, with US$16 billion. The U.S. and Local Europe garnered an aggregate US$13 billion in net deposits. Meanwhile, Latin America suffered US$12 billion in net redemptions.

Actively managed funds experienced outflows of US$25 billion while passive funds accumulated US$66 billion in net deposits. International investors were the largest benefactors of active funds, gathering an aggregate US$11 billion in net new money. Overall, bond funds attracted the most investor demand out of any asset class, with US$25 billion in net subscriptions. 

BlackRock was the best-performing manager during the month, with US$19 billion in net new cash. Its best-selling fund, the iShares iBoxx $ Invstmt Grd Corp Bd ETF, attracted approximately US$4 billion in new investor money. The fund provides broad exposure to U.S. investment-grade corporate bonds and had US$46 billion in assets under management as of April 2020.