Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund asset flows through June 2010. After registering outflows in May, flows into U.S. mutual funds reached $13.5 billion in June. Mutual funds saw inflows in five of the last six months, gathering $166.7 billion in the first half of 2010, which is about 24% higher than total inflows for the same period in 2009. June marked the fifth consecutive month of inflows for U.S. ETFs. Investors poured more than $9.9 billion into ETFs during the month, bringing the year-to-date total to $34.0 billion.
Additional highlights from Morningstar’s report on mutual fund flows:
- Investors added $17.6 billion to taxable-bond funds in June, bringing the total inflows to $119.6 billion during the first two quarters of 2010. Municipal-bond funds took in nearly $2.0 billion in June and $19.5 billion for the year-to-date period.
- Despite the year-to-date losses sustained by the MSCI EAFE Index and continuing worry about the downturn in foreign stocks, year-to-date inflows for international-equity funds reached $19.6 billion, while domestic-stock funds experienced outflows of nearly $17.0 billion.
- Alternative mutual funds, many of which were launched since the credit crisis, have recorded record inflows. PIMCO Fundamental Advantage Total Return has the led the way, taking in nearly $3.3 billion over the past 12 months through June.
- Money market funds have lost $790.5 billion in assets over the past 12 months, with almost 80% of those outflows coming from institutional share classes.
Additional highlights from Morningstar’s report on ETF flows:
- In June, as well as for the year-to-date period and the trailing one-year period, taxable-bond ETFs led all ETF asset classes with more than $4.7 billion in net inflows.
- Inflows of roughly $2.6 billion in June into SPDR S&P 500 (NYSE:SPY) bolstered overall flows for domestic-stock ETFs, which reached $2.7 billion in the month. While large- and mid-cap U.S. stock ETFs had net inflows in June, small-cap ETFs saw large outflows.
- While flows into iShares MSCI Germany Index (NYSE:EWG) and iShares FTSE/Xinhua China 25 likely represent investors repositioning their international-stock exposure to include Germany and China amid the sovereign debt crisis in Europe, most single-country ETFs experienced outflows in June.
- SPDR Gold Shares (NYSE:GLD) was the second-most popular ETF in June, with inflows of $2.1 billion. Gold ETFs experienced strong inflows during the month, while funds that provide exposure to energy markets by rolling one-month futures contracts led outflows for commodities ETFs.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 350,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 21 countries and a minority ownership position in a company based in one other country.
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|Carling Spelhaug of Morningstar, Inc., +1-312-696-6150, [email protected]|
SOURCE Morningstar, Inc.