Lipper Fund Flows Insight Reports

Investors Sit Pat in December, Injecting Only $18.4 Billion Net Into the Conventional Funds Business

lipperclientservices@thomsonreuters.com — Thu, 19 Jan 2012 00:00:00 -0700

For the second consecutive month investors, injecting $18.4 billion into the conventional funds business, were net purchasers of fund assets for December. Once again, net inflows for bond funds (+$9.3 billion) and money market funds (+$33.9 billion) easily offset the $24.8-billion redemptions from stock & mixed-equity funds.

For the eighth consecutive month investors were net redeemers of U.S. Diversified Equity Funds, withdrawing $18.5 billion. Large-cap funds (-$11.0 billion) experienced their fourteenth consecutive month of outflows. Only three of Lipper’s 4x3-matrix fund classifications attracted net new money: Multi-Cap Core Funds (+$1.2 billion), Large-Cap Growth Funds (+$0.2 billion) and Small-Cap Growth Funds (+$0.2 billion).

For December stock & mixed equity ETFs posted net inflows of $10.2 billion while bond ETFs added $4.8 billion to their accounts.

The SPDR S&P 500 ETF (SPY) attracted net inflows of $8.4 billion while SPDR Gold Trust (GLD) suffered redemptions of $2.2 billion.

Investors Duck for Cover During November, but They Inject $53.3 Billion Net Into the Conventional Funds Business

Fri, 16 Dec 2011 00:00:00 -0700

For the first month in three investors, injecting $53.3 billion into the conventional funds business, were net purchasers of fund assets for November. Net inflows for bond funds (+$20.6 billion) and money market funds (+$54.9 billion) easily offset the $22.3-billion redemptions from stock & mixed-equity funds during the month.

For the seventh consecutive month investors were net redeemers of USDE Funds, pulling out $13.4 billion. Large-cap funds (-$10.1 billion) experienced their thirtieth consecutive month of outflows. Only one of Lipper’s 4x3-matrix fund classifications attracted net new money: Multi-Cap Core Funds (+$2.0 billion).

For November institutional investors once again made net purchases (+$2.7 billion) of World Equity Fund assets, while investors in loaded funds and no-load funds withdrew a net $3.8 billion and $2.7 billion, respectively.

For the third consecutive month bond funds (+$20.6 billion) witnessed net purchases, and for the first month in four money market funds saw net inflows (+$54.9 billion).

Despite Relatively Strong October Returns for Equity Funds, Investors Remain Net Redeemers of Fund Assets

Wed, 16 Nov 2011 00:00:00 -0700

For the second month in a row investors were net redeemers of fund assets for October, redeeming $20.2 billion from the conventional funds business. Net inflows from bond funds (+$11.3 billion) weren’t enough to offset the $10.9-billion and $20.5-bllion redemptions from stock & mixed-equity funds and money market funds during the month.

For the sixth consecutive month investors were net redeemers of USDE Funds, pulling out $17.9 billion. Large-cap funds (-$7.8 billion) experienced their twenty-ninth consecutive month of outflows. None of Lipper’s 4x3-matrix fund classifications attracted net new money.

For October institutional investors, bucking the trend, made net purchases (+$5.6 billion) of World Equity Fund assets, while investors in loaded funds and no-load funds withdrew a net $3.6 billion each.

For the second consecutive month bond funds (+$11.3 billion) witnessed net purchases, while money market funds saw their second month of net outflows (-$20.5 billion).

With the Large Increase in Market Volatility in September, Investors Become Net Redeemers of Fund Assets

Tue, 18 Oct 2011 00:00:00 -0600

For the third month in four investors were net redeemers of fund assets for September, removing $13.4 billion from the conventional funds business. Net inflows from bond funds (+$10.1 billion) weren’t enough to offset the $13.4-billion and $10.0-bllion redemptions from stock & mixed-equity funds and money market funds during the month.

For the fifth consecutive month investors were net redeemers of USDE Funds, pulling out $13.9 billion. Large-cap funds (-$8.2 billion) experienced their twenty-eighth consecutive month of outflows. None of Lipper’s 4x3-matrix fund classifications attracted net new money.

For September institutional investors made net purchases (+$6.0 billion) of World Equity Fund assets, while investors in loaded funds and no-load funds withdrew a net $2.1 billion and $14.4 million, respectively.

For the seventh month in eight bond funds (+$10.1 billion) witnessed net purchases, while money market funds saw their sixth month of net outflows (-$10.0 billion) in seven months.

Conventional Fund Flows Are Just on the Plus Side as Investors Move To Money Market Funds

Mon, 19 Sep 2011 00:00:00 -0600

For the first month in three investors were net purchasers of fund assets, injecting just $0.6 billion into the conventional funds business. Net outflows from stock & mixed-equity funds (-$54.4 billion) and bond funds (-$19.1 billion) almost matched the $74.2-billion injection into money market funds during the month.

For the fourth consecutive month investors were net redeemers of USDE Funds in August, pulling out $38.2 billion. Large-cap funds (-$17.6 billion) experienced their twenty-seventh consecutive month of outflows. Of Lipper’s 4x3-matrix fund classifications, only Multi-Cap Core Funds (+$0.4 billion) attracted net new money.

For August institutional investors were net redeemers (-$0.6 billion) of World Equity Fund assets, and investors in loaded funds and no-load funds withdrew a net $5.5 billion and $1.9 billion, respectively.

For the first month in seven bond funds (-$19.1 billion) witnessed net redemptions for August, while money market funds saw their first net inflows (+$74.2 billion) in six months.

Fund Investors Redeem $129.5 Billion as Congressional Leaders Deadlock on the Nation’s Debt Ceiling

Tue, 16 Aug 2011 00:00:00 -0600

For the second consecutive month investors were net redeemers of fund assets, withdrawing a record $129.5 billion from the conventional funds business. Outflows from stock & mixed-equity funds (-$31.2 billion) and money market funds (-$111.4 billion) overwhelmed the $13.1-billion injection into bond funds during the month.

For the third consecutive month investors were net redeemers of USDE Funds in July, pulling out $29.9 billion. Large-cap funds (-$13.4 billion) experienced their twenty-sixth consecutive month of outflows. None of the 4x3-matrix fund classifications attracted net new money.

Once again Institutional investors injected net new money (+$1.7 billion) into World Equity Funds (-$3.8 billion net), while investors in loaded funds and no-load funds redeemed $2.9 billion and $2.5 billion, respectively.

For the sixth consecutive month bond funds (+$13.1 billion) witnessed net purchases for July, while money market funds saw their fifth straight month of net redemptions (-$111.4 billion).

Nervous Investors Redeem $41.8 Billion From the Conventional Funds Business in June

Tue, 19 Jul 2011 00:00:00 -0600

For the first month in five investors were net redeemers of fund assets, withdrawing a net $41.8 billion from the conventional funds business. Flows from stock & mixed-equity funds (-$19.8 billion) and money market funds (-$43.1 billion) swamped the $21.2-billion injection into bond funds during the month.

For the second consecutive month investors were net redeemers of USDE Funds in June, pulling out $21.9 billion. Large-cap funds (-$11.1 billion) experienced their twenty-fifth consecutive month of outflows. Multi-Cap Core Funds (+$0.9 billion) attracted the largest inflows of the macro-group.

Institutional investors injected net new money (+4.3 billion) into World Equity Funds (+$0.2 billion net), while investors of loaded funds redeemed $3.0 billion.

For the fifth consecutive month bond funds (+$21.2 billion) witnessed net purchases for June.

Despite Economic Worries, Investors Inject a Net $28.3 Billion Into the Conventional Funds Business in May

Thu, 16 Jun 2011 00:00:00 -0600

For the fourth consecutive month investors were net purchasers of fund assets, injecting $28.3 billion into the conventional funds business. Flows into stock & mixed-equity funds (+$14.2 billion) and bond funds (+$20.8 billion) easily offset the $6.7-billion withdrawal from money market funds during the month.

USDE Funds investors became net redeemers in May, pulling out $1.1 billion. Large-cap funds (-$4.5 billion) experienced their twenty-fourth consecutive month of outflows. Once again Equity Income Funds (+$1.7 billion) attracted the largest inflows of the macro-group.

Institutional investors (+$7.0 billion) injected net new money into World Equity Funds (+$5.7 billion net), while investors of loaded funds redeemed $2.0 billion.

For the second month in a row Mixed-Equity Funds (+$10.5 billion) attracted the largest inflows of the four equity macro-groups.

For the fourth consecutive month bond funds (+$20.8 billion) witnessed net purchases in May.

Investors Inject Net New Money Into the Conventional Funds Business for the Third Consecutive Month

Tue, 17 May 2011 00:00:00 -0600

For the third consecutive month investors were net purchasers of fund assets, injecting $27.3 billion into the conventional funds business. Flows into stock & mixed-equity funds (+$20.7 billion) and bond funds (+$13.8 billion) easily offset the $7.2-billion withdrawal from money market funds during the month.

For the third month in four the USDE Funds macro-group (+$0.5 billion) witnessed net inflows. Large-cap funds (-$4.8 billion) experienced their twenty-third consecutive month of outflows. Once again Equity Income Funds (+$1.6 billion) attracted the largest inflows of the macro-group.

Institutional investors (+$9.9 billion) injected net new money into World Equity Funds (+$6.6 billion net), while no-load fund and loaded fund investors redeemed $1.6 billion and $1.7 billion, respectively.

For the third consecutive month bond funds (+$13.8 billion) witnessed net purchases in April.

Despite Continuing Geopolitical Concerns, Investors Remain Net Purchasers of Fund Assets in March

Mon, 18 Apr 2011 00:00:00 -0600

For the second consecutive month investors were net purchasers of fund assets, injecting $13.4 into the conventional funds business. Flows into stock & mixed-equity funds (+$20.9 billion) and bond funds (+$7.4 billion) outweighed the $14.9-billion withdrawal from money market funds during the month.

For the first month in three the USDE Funds macro-group (-$3.9 billion) suffered net redemptions. Large-Cap Core Funds (-$6.5 billion), Large-Cap Value Funds (-$1.6 billion), and Mid-Cap Growth Funds (-$0.6 billion) witnessed the only outflows for Lipper’s 4x3 matrix classifications.

Institutional investors (+$9.5 billion) added the majority of the new money to World Equity Funds (+$10.5 billion net), while no-load fund investors injected $1.6 billion and load investors redeemed some $0.5 billion.

For the second month in a row fixed income funds (+$7.4 billion) witnessed net purchases during the month.

All Three Broad-Based Asset Classes Attract Net Inflows for February

Wed, 16 Mar 2011 00:00:00 -0600

For the first month in 26 all three broad-based asset classes took in new money, with stock & mixed-equity funds drawing in $31.0 billion net, bond funds attracting $7.5 billion, and money market funds taking in $15.1 billion.

For the second month in a row the USDE Funds macro-group (+$7.4 billion) experienced net inflows, with Large-Cap Growth Funds (+$1.5 billion) and Equity Income Funds (+$2.0 billion) witnessing the largest inflows of the USDE macro-group.

Institutional investors (+$6.2 billion) added all of the new money to World Equity Funds (+$5.4 billion net), while no-load fund investors withdrew $0.1 billion and load investors took out some $0.7 billion for February.

For the first month in four fixed income funds (+$7.5 billion) witnessed net purchases during the month.

For the Third Consecutive Month Investors Keep Focus on Equity Funds

Wed, 16 Feb 2011 00:00:00 -0700

For the second month running investors were net redeemers of fund assets. Monthly inflows into stock & mixed-equity funds (+$44.7 billion, their largest since April 2007) were overwhelmed by the third monthly outflows from bond funds (-$2.1 billion) and the first monthly net outflows in three months from money market funds (-$87.5 billion)

For the first month in nine the USDE Funds macro-group (+$13.1 billion) witnessed net inflows, with Small-Cap Core Funds (+$2.7 billion) and Equity Income Funds (+$2.0 billion) witnessing the largest net inflows of the USDE macro-group.

Institutional investors (+$9.9 billion) added the majority of net new money to World Equity Funds (+$11.7 billion net), while no-load fund investors injected $0.5 billion and load investors added $1.3 billion for January.

For the third month in a row fixed income funds (-$2.1 billion) experienced net redemptions for January.

For the Second Consecutive Month Investors Are Net Redeemers of Fixed Income Funds

Tue, 18 Jan 2011 00:00:00 -0700

For the first month in three investors were net redeemers of fund assets. Inflows into money market funds (+$3.3 billion) and stock & mixed-equity funds (+$11.1 billion) weren't nearly enough to overcome the second monthly outflows from bond funds (-$25.2 billion).

For the eighth consecutive month the USDE Funds macro-group (-$10.9 billion) suffered net redemptions, with multi-cap funds (-$7.8 billion) witnessing the largest net outflows of the USDE macro-group.

Institutional investors (+$9.3 billion) added the majority of net new money to World Equity Funds (+$12.5 billion net), while no-load fund investors injected $4.4 billion and load investors redeemed $1.1 billion for December.

For the second month in a row fixed income funds (-$25.2 billion) experienced net redemptions for December.

For December the Money Market Funds macro-group (+$3.3 billion) managed to stay in the black.

For the First Month in 23 Investors Are Net Redeemers of Fixed Income Funds

Thu, 16 Dec 2010 00:00:00 -0700

For the second month in a row investors were net purchasers of fund assets in general; inflows into money market funds (+$30.2 billion) and stock & mixed-equity funds (+$15.3 billion) easily outweighed the first monthly outflows (-$1.9 billion) since December 2008 from bond funds.

For the seventh consecutive month the USDE Funds macro-group (-$4.3 billion) suffered net redemptions, with large-cap funds (-$6.8 billion) witnessing net outflows for the eighteenth consecutive month.

Institutional investors (+$5.8 billion) added the lion’s share of net new money to World Equity Funds (+$6.6 billion net), while no-load and load fund investors injected $0.6 billion and $0.2 billion, respectively, for November.

Taxable bond funds attracted a net $6.0 billion for November, while municipal bond funds handed back $7.9 billion.

In November the Money Market Funds macro-group (+$30.2 billion) took in its largest net inflows since January 2009.

The Conventional Funds Business Attracts $24.8 Billion of Net New Money in October

Tue, 16 Nov 2010 00:00:00 -0700

For the fourth month in five investors were net purchasers of fund assets; inflows into bond funds (+$21.3 billion) and stock & mixed-equity funds (+$12.3 billion) easily outweighed the outflows from money market funds (-$8.8 billion).

For the sixth month in a row the USDE Funds macro-group (-$6.1 billion) suffered net redemptions, with large-cap funds (-$7.2 billion) witnessing net outflows for the seventeenth consecutive month.

Institutional investors (+$11.2 billion) added cash to World Equity Funds (+$10.0 billion net), while load and no-load fund investors collectively redeemed $0.8 billion and $0.5 billion, respectively, for October.

Intermediate Investment-Grade Debt Funds, taking in $3.4 billion for October, attracted the largest inflows in the bond fund macro-group for the fourth month running.

The Money Market Funds macro-group witnessed in October its second consecutive month of net outflows (-$8.8 billion).

Equity and Bond Funds Attract Net Flows for September, but the Conventional Funds Business Still Sees $6.9 Billion Leave Its Doors

Mon, 18 Oct 2010 00:00:00 -0600

For the first month in four investors were net redeemers of fund assets; bond funds (+$25.4 billion) and stock & mixed equity funds (+$3.7 billion) couldn’t make up for the outflows from money market funds (-$35.9 billion).

For the fifth month in a row the USDE Funds macro-group (-$10.7 billion) suffered net redemptions, with large-cap funds (-$7.0 billion) witnessing net outflows for the sixteenth consecutive month.

Institutional (+$5.6 billion) and no-load (+$2.0 billion) investors added cash to World Equity Funds (+$6.5 billion net), while load fund investors collectively redeemed $1.1 billion for September.

Intermediate Investment-Grade Debt Funds, taking in $5.7 billion for September, attracted the largest inflows in the bond fund macro-group for the third month running.

The Money Market Funds macro-group witnessed its first monthly net outflows (-$35.9 billion) in three months.

Investors Inject $46.8 Billion Into the Conventional Funds Business for August, but Equity Funds Continue to See an Exodus

Fri, 17 Sep 2010 00:00:00 -0600

For the third consecutive month investors were net purchasers of fund assets, with bond funds (+$31.1 billion) and money market funds (+$20.7 billion) more than compensating for the outflows from stock & mixed-equity funds (-$5.0 billion).

For the fourth month in a row the USDE Funds macro-group (-$10.5 billion) suffered net redemptions, with large-cap funds (-$7.4 billion) witnessing net outflows for the fifteenth consecutive month.

For the second month in a row institutional investors (+$5.1 billion) added cash to World Equity Funds (+$1.4 billion net), while load- and no-load fund investors collectively redeemed $3.7 billion for August.

Intermediate Investment-Grade Debt Funds, taking in $8.4 billion for August, attracted the largest inflows for the second month running in the bond fund macro-group.

The Money Market Funds macro-group witnessed its second monthly net inflows (+20.7 billion) in 19 months.

The Conventional Funds Business Attracts $31.1 Billion for July, But Equity Investors Head for the Door

Sat, 31 Jul 2010 00:00:00 -0600

For the second month in a row investors were net purchasers of fund assets, with bond funds (+$26.5 billion) and money market funds (+$6.6 billion) offsetting the outflows from stock & mixed-equity funds (-$2.1 billion).

For the third month running the USDE Funds macro-group (-$8.6 billion) suffered net redemptions, with large-cap funds (-$4.5 billion) witnessing net outflows for the fourteenth consecutive month.

For the second month in a row institutional investors (+$6.4 billion) added cash to World Equity Funds (+$1.7 billion net), while load- and no-load fund investors collectively redeemed $4.7 billion for July.

Intermediate Investment-Grade Debt Funds, taking in $6.2 billion for July, elbowed its way back to the fixed income flows lead, pushing Short Investment-Grade Debt Funds (+$2.6 billion) to the runner-up position.

The Money Market Funds macro-group witnessed its first monthly net inflows (+6.6 billion) in 18 months.

For the First Month in Seven Investors Were Net Purchasers of Fund Assets, Adding a Net $3.3 Billion for June

Wed, 30 Jun 2010 00:00:00 -0600

For the first month since December 2009 investors were net purchasers of fund assets, with stock & mixed-equity funds (+$11.0 billion) and bond funds (+$18.6 billion) collectively offsetting outflows from money market funds (-$26.3 billion).

For the second consecutive month the USDE Funds macro-group (-$3.1 billion) suffered net redemptions, with large-cap funds (-$4.9 billion) witnessing net outflows for the thirteenth month in a row.

Institutional Investors (+$6.8 billion) padded the coffers of World Equity Funds (+$3.1 billion), while load- and no-load fund investors collectively redeemed $3.7 billion for June.

Short Investment-Grade Debt Funds, taking in $2.6 billion for June, pushed the old favorite, Intermediate Investment-Grade Debt Funds (+$2.3 billion), to the runner-up position for the first time in 18 months.

Investors Duck for Cover, Withdrawing $47.2 Billion From the Conventional Funds Business in May

Mon, 31 May 2010 00:00:00 -0600

For the first month since February 2009, equity investors pulled more money from stock & mixed-equity funds (-$31.3 billion) than they did from money market funds (-$18.2 billion). They continued to pad (albeit to a lesser extent) the coffers of bond funds (+$2.3 billion).

The USDE Funds macro-group (-$21.7 billion) handed back its largest monthly net redemptions since October 2008. However, the alternative asset classes in the group drew in about $2.3 billion net for the month.

Concerns about Chinese inflation and sovereign debt woes along with a strengthening dollar drove World Equity Funds (-$6.7 billion) to its first net outflows in 14 months.

Intermediate Investment-Grade Debt Funds, taking in $5.3 billion for May, continued to attract the largest net inflows in the taxable bond (nonmoney market) fund group for the seventeenth straight month.

Equity Funds Outdraw Bond Funds for the First Month Since April 2009

Fri, 30 Apr 2010 00:00:00 -0600

Investors redeemed a net $123.5 billion from money market funds in April but continued to pad the coffers of both bond funds (+$24.4 billion) and stock & mixed-equity funds (+$31.4 billion).

For the second month in a row investors injected cash into USDE Funds, adding some $5.1 billion to the group. Large-cap funds (-$3.8 billion) suffered the largest net redemptions of Lipper’s 4x3-matrix group.

Despite a rekindling of sovereign debt concerns and a strengthening dollar, World Equity Funds (+$11.6 billion) attracted the largest net inflows of Lipper’s four equity macro-classifications.

Intermediate Investment-Grade Debt Funds, taking in $7.8 billion for April, continued to attract the largest net inflows and led the taxable bond (nonmoney market) fund group for the sixteenth straight month.

Money Market Funds See Record Redemptions in March, but Equity and Bond Funds Attract Net New Money

Wed, 31 Mar 2010 00:00:00 -0600

Investors withdrew a record-$149.4 billion from money market funds in March but fed the coffers of both bond funds (+$36.0 billion) and stock & mixed-equity funds (+$27.5 billion).

Investors warmed to USDE Funds for the second month in three, adding some $2.7 billion to the group, with large-cap funds (-$4.4 billion) suffering the only net redemptions of Lipper’s 4x3-matrix group.

With investors ignoring a seemingly frothy market abroad and a strengthening dollar, World Equity Funds (+$11.2 billion) attracted the largest net inflows of Lipper’s four equity macro-classifications.

Intermediate Investment-Grade Debt Funds, taking in $9.6 billion for March, continued to attract the largest net inflows and led the taxable bond (nonmoney market) fund group for the fifteenth straight month.

Net Inflows to Equity and Fixed Income Funds Were Not Enough to Overcome Money Market Fund Redemptions in February

Sun, 28 Feb 2010 00:00:00 -0700

At a slower pace investors injected cash into bond (+$25.5 billion) and stock & mixed-equity funds (+$11.5 billion) in February, while redeeming $74.4 billion from money market funds.

Once again investors turned a cold shoulder to USDE Funds, redeeming $2.9 billion from the group, with large-cap funds (-$3.7 billion) cast as the pariah and Equity Market-Neutral Funds (+$1.0 billion) and Dedicated Short-Bias Funds (+$0.5 billion) the heroes of the macro-group.

Despite a strengthening dollar, World Equity Funds (+$6.8 billion) attracted the largest net inflows of Lipper’s four equity macro-classifications.

Intermediate Investment-Grade Debt Funds, taking in $5.6 billion for February, continued to attract the largest net inflows and led the taxable bond (nonmoney market) group for the fourteenth straight month.

Despite Positive Inflows Into Both Equity and Fixed Income Funds, the Conventional Funds Business Hands Back $58.8 Billion for January

Sun, 31 Jan 2010 00:00:00 -0700

Investors injected cash into bond (+$26.9 billion) and stock & mixed-equity funds (+$24.5 billion) in January, while redeeming a whopping $110.1 billion from money market funds.

Despite poor returns for the month, investors moved money into USDE Funds in January, adding a net $3.2 billion to the group, with the go-anywhere Multi-Cap Core Funds (+$1.7 billion) drawing in the largest net inflows for the macro-group.

World Equity Funds (+$10.4 billion) attracted the largest net inflows of Lipper's four equity macro-classifications--its largest net inflows since October 2007.

Commodities Funds, with net inflows of $1.0 billion, led the Sector Equity group for the thirteenth consecutive month.

The Mixed-Equity Funds macro-group (+$8.6 billion) experienced its largest net inflows since May 2008, with the target horizon fund groups being the primary attractors of investors' assets.

Unlike the impressive monthly inflows experienced by their mutual fund brethren, stock & mixed-equity ETFs (-$19.4 billion) took it on the chin in January.

In December Investors Were Net Purchasers of Fund Assets, but for the Year the Conventional Funds Business Shed $82.7 Billion

Thu, 31 Dec 2009 00:00:00 -0700

Bond funds (+$24.6 billion) padded their coffers in December, while stock and mixed-equity funds (-$2.1 billion) and money market funds (-$7.7 billion) were in the red for the converntional funds business.

However, ETFs experienced inflows for both major macro groups: bond ETFs garnered $3.4 billion while stock and mixed-equity ETFs attracted $21.3 billion.

Investors continued to shun USDE Funds in December, redeeming a net $10.3 billion from the group. However, the other equity macro-groups caught investors' attention, drawing in a combined $8.2 billion.

Mixed-Equity Funds (+$3.8 billion) attracted the largest net inflows of Lipper's four equity macro-classifications for the first month in four.

A strengthening dollar and minor concerns over the extended run-up in world markets weighed marginally on World Equity Funds' flows, but the macro-group still attracted net inflows ($2.8 billion) for the ninth consecutive month.

The Conventional Funds Business Sheds $10.8 Billion Overall, While ETFs Take Up the Slack

Mon, 30 Nov 2009 00:00:00 -0700

Stock and mixed-equity funds (+6.7 billion) and bond funds (+$34.4 billion) added to their coffers in November, while money market funds (-$51.9 billion) saw red for the tenth straight month.

Investors once again turned a cold shoulder to USDE Funds in November, redeeming a net $8.1 billion from the group. However, the other equity macro-groups caught investors' attention, drawing in a combined $14.8 billion.

World Equity Funds (+$8.0 billion) attracted the largest net inflows of Lipper's four equity macro-classifications for the second straight month.

Commodities Funds, with net inflows of $1.1 billion, led the Sector Equity group for the eleventh month in a row.

Mixed-Equity Funds, drawing in $5.5 billion, witnessed net inflows for the eighth consecutive month. Mixed-Asset Target Allocation Conservative Funds, with $1.0 billion, attracted the largest net inflows of the life cycle and life stage funds subgroup.

Stock and mixed-equity ETFs (+$9.1 billion) and bond ETFs (+$2.8 billion) attracted net new money for November.

The Conventional Funds Business Sees Another $12.8 Billion Fly Out the Door in October, but ETF Inflows Almost Close the Gap

Sat, 31 Oct 2009 00:00:00 -0600

Stock and mixed-equity funds (+12.9 billion) and bond funds (+$42.8 billion) padded their coffers in October, while money market funds (-$68.5 billion) handed back cash for the ninth consecutive month.

Investors once again shunned USDE funds in October, redeeming a net $5.4 billion from the group. But they renewed their interest in the other equity macro-groups, adding a combined $18.4 billion to the other major equity macro-groups.

World Equity Funds (+$9.2 billion) attracted the largest net flows of Lipper’s four equity macro-classifications.

Commodities Funds, with net inflows of $1.3 billion, led the Sector Equity group for the tenth month in a row.

Mixed-Equity Funds, drawing in $7.2 billion, witnessed net inflows for the seventh consecutive month in October. Mixed-Asset Target 2025 Funds, with $1.4 billion, attracted the largest net inflows of the life cycle and life stage funds subgroup.

Stock and mixed-equity ETFs (+4.3 billion) and bond ETFs (+$3.0 billion) attracted net new money in October.

Please see our new ETF section in this report.

September Money Market Fund Outflows Swamp the Inflows for Other Asset Classes

Wed, 30 Sep 2009 00:00:00 -0600

Stock and mixed-equity funds (+6.8 billion) and bond funds (+$48.3 billion—a new record) attracted net new money in September, while money market funds (-$119.7 billion—also a record) posted net outflows for the eighth consecutive month.

Investors turned a cold shoulder to USDE funds, removing a net $6.5 billion from the group, but they injected a combined $13.3 billion into the other major equity macro-groups.

For the month World Equity Funds (+$5.2 billion) drew in the second largest net flows of Lipper’s four equity macro-classifications.

Commodities Funds, with net inflows of $923 million, led the Sector Equity group for the ninth consecutive month.

For the sixth consecutive month Mixed-Equity Funds experienced net inflows in September, drawing in $6.9 billion. Mixed-Asset Target Allocation Conservative Funds attracted the largest inflows of the life cycle and life stage funds subgroup at $1.7 billion.

August Sees Positive Inflows as Equity and Bond Fund Gains Overcome Money Market Fund Losses

lipperclientservices@thomsonreuters.com — Mon, 31 Aug 2009 00:00:00 -0600

Stock and mixed-equity funds (+15.0 billion) and bond funds (+$42.3 billion) attracted net new money in August, while money market funds (-$40.5 billion) posted net outflows for the seventh consecutive month.

Investors found comfort in multi-cap funds (+1.7 billion), mid-cap funds (+$1.6 billion), and small-cap funds (+$2.0 billion), while large-cap funds saw net outflows of $4.7 billion.

For the month World Equity Funds (+$5.4 billion) drew in the second largest flows of Lipper’s four equity macro-classifications.

Commodities Funds, with net inflows of $627 million, led the Sector Equity group for the eighth consecutive month.

For the fifth consecutive month Mixed-Equity Funds experienced net inflows in August, drawing in $8.0 billion. Mixed-Asset Target Allocation Moderate Funds attracted the largest inflows of the life cycle and life stage funds at $1.9 billion.

Fund Flows Near Even for July

lipperclientservices@thomsonreuters.com — Fri, 31 Jul 2009 00:00:00 -0600

- For the fourth consecutive month both stock & mixed-equity funds (+$14.6 billion) and bond funds (+$33.4 billion) attracted investor dollars in July, while money market funds (-$48.3 billion) handed back cash for the sixth month in a row.

- USDE Funds witnessed net redemptions (-$1.0 billion) for the first month in four. Investors continued to flee large-cap funds (-$3.3 billion), while turning their attention to small-cap funds (+$2.1 billion).

- For first time since May 2008 World Equity Funds (+$8.5 billion) attracted the largest net inflows of Lipper's four equity macro-classifications.

- For the fourth month in a row Mixed-Equity Funds witnessed net inflows in July, taking in $5.8 billion. Mixed-Asset Target Allocation Moderate Funds attracted the largest inflows of the life cycle and life stage funds at $1.3 billion.

Equity and Bond Funds Continue to Draw Assets, While Money Market Funds See Their Largest Monthly Outflows on Record

lipperclientservices@thomsonreuters.com — Tue, 30 Jun 2009 00:00:00 -0600

- Stock and mixed-equity funds (+12.0 billion) and bond funds (+$27.5 billion) attracted net new money in June, while money market funds (-$109.8 billion) posted their largest net outflows on record.

- Investors continued to find comfort in multi-cap funds, adding $3.0 billion to the group, while large-cap funds saw net outflows of $2.6 billion.

- For the month World Equity Funds (+$600 million) drew in the smallest flows of Lipper’s four equity macro-classifications.

- For the third consecutive month Mixed-Equity Funds experienced net inflows in June, drawing in $5.7 billion. Mixed-Asset Target Allocation Conservative Funds attracted the largest inflows of the life cycle and life stage funds at $1.1 billion.

Investors Wade Deeper Into Investment Waters, Adding a Net $32.5 Billion to Fund Coffers in May

lipperclientservices@thomsonreuters.com — Sun, 31 May 2009 00:00:00 -0600

- Stock & mixed-equity funds (+$23.2 billion) and bond funds (+$30.3 billion) attracted net new money in May, while investors withdrew some $21.0 billion from money market funds, giving May the second consecutive month of net inflows into the conventional funds business.

- Unsure which capitalization bet to make, investors preferred the comfort of the go-anywhere fund style of multi-cap funds over the other capitalization groups, adding $3.4 billion to the group.

- World Equity Funds attracted the smallest amount of net new money of Lipper's four major equity macro-groups, drawing in an estimated $1.2 billion net for the month.

- For the second consecutive month Mixed-Equity Funds experienced net inflows for May, drawing in $7.7 billion. Mixed-Asset Target Allocation Moderate Funds, taking in a net $1.9 billion, attracted the largest inflows of the life cycle and life stage funds group.

Q1 2009: Outflows Ebb Amid Early Signs of Improving Conditions

lipperclientservices@thomsonreuters.com — Tue, 19 May 2009 00:00:00 -0600

- The Singapore unit trust market registered net outflows of S$122 million for first quarter 2009, marking a slowdown in the pace of negative flows after the record outflows of S$1.52 billion seen in the previous quarter.

- All asset types experienced net outflows. The asset type showing the highest net outflows was bond unit trusts, with S$39.2 million of net redemptions—but down from the Q4 2008 peak of S$629.9 million of net outflows.

- That said, inflows into bond and money market funds continued to exceed those into funds allocated to other asset classes. In the three months under review bond products saw total inflows to the tune of S$545.7 million, with another S$539.0 million going into money market products; these figures contrast with total inflows of S$829.4 million and S$715.7 million, respectively, during the previous quarter.

- Mixed-asset funds—after a rough fourth quarter 2008, when inflows of S$160.6 million were negated by nearly twice that amount of outflows—saw a marginal reduction of S$34 million in total assets by the end of first quarter 2009.

- Among the other asset classes positive net flows in the commodities (+S$8.92 million) and absolute return (+S$2.06 million) spaces were cancelled by net money outflows for guaranteed (-S$9.62 million) and protected (-S$6.26 million) funds and hedged/diversified products (-S$7.09 million).

Investors Add to Both Equity and Bond Funds, but Withdraw Cash from Money Market Funds in April

lipperclientservices@thomsonreuters.com — Thu, 30 Apr 2009 00:00:00 -0600

- The stock and mixed-equity funds (+23.1 billion) and bond funds (+$23.0 billion) macro-classifications attracted net new money in April, while money market funds (-$23.0 billion) suffered through their third consecutive net redemption in April.

- Breaking a 20-month outflow trend, large-cap funds (+$2.5 billion) became the main capitalization attractor of the U.S. Diversified Equity group, while value-oriented funds (+$3.6 billion) recaptured the attention of investors.

- For the month Sector Equity Funds (+$2.2 billion net) drew in the smallest flows of Lipper's four equity macro-classifications.

- For the first month in three Mixed-Equity Funds experienced net inflows in April, drawing in $7.0 billion. April net flows into the primarily broker-recommended mixed-asset target allocation funds jumped to the head of the class, attracting some $3.2 billion and improving considerably from March's $5.9-billion net outflows.

Fund Investors Withdraw a Net $87.6 Billion—The Largest Retreat Since September 2008

lipperclientservices@thomsonreuters.com — Tue, 31 Mar 2009 00:00:00 -0600

- The bond funds macro-group (+$21.8 billion) was the only macro-classification attracting net flows for March, while stock and mixed-equity funds handed back $34.7 billion and money market funds (-$74.8 billion) witnessed their largest net redemption since June 2008.

- Large-cap funds (-$8.5 billion) continued to be the outcast of the U.S. Diversified Equity (USDE) funds group, while small-cap funds (-$0.7 billion) mitigated outflows better than the other capitalization groups.

- For the quarter Sector Equity Funds (+$1.6 billion net) was the only equity macro-group attracting investor assets.

- For March the Mixed-Equity Funds macro-group (-$3.3 billion) suffered its sixth monthly redemption in nine. The mixed-asset target horizon funds group's inflows (+$3.1 billion) were overwhelmed by the net redemptions witnessed in the mixed-asset target allocation funds group (-$5.9 billion).

In February the Conventional Funds Business Suffered Its First Net Redemptions Since September 2008, Handing Back $17.8 Billion

lipperclientservices@thomsonreuters.com — Sat, 28 Feb 2009 00:00:00 -0700

- The bond funds macro-group (+$13.8 billion) was the only macro-classification attracting net flows in February, while stock and mixed-equity funds handed back $24.9 billion and money market funds witnessed $6.7 billion of net redemptions.
- Large-cap funds (-$6.4 billion) continued to be the pariah of the U.S. Diversified Equity (USDE) funds group, while small-cap funds (-$1.2 billion) mitigated outflows better than the other capitalization groups.
- In February the Mixed-Equity Funds macro-group (-$3.9 billion) suffered its fifth monthly redemption in eight. The mixed-asset target horizon funds group's inflows (+$2.7 billion) were swamped by the net redemptions witnessed in the mixed-asset target allocation funds group (-$6.4 billion).
- For the year-to-date period World Equity Funds, shedding some $8.9 billion to net redemptions, handed back the largest amount of the four equity macro-classification breakouts.

All Three Major Fund Asset Classes Experience Net Inflows in January

lipperclientservices@thomsonreuters.com — Sat, 31 Jan 2009 00:00:00 -0700

- For the first time since May 2008 all three major asset classes witnessed positive net flows, with money market funds attracting $68.3 billion, bond funds taking in $14.3 billion, and equity funds drawing $11.7 billion into their coffers.
- For the first month in six investors added money (+$6.6 billion net) to the U.S. Diversified Equity (USDE) funds macro-group, but large-cap funds and growth-oriented funds continued to be shunned by investors (each shedding about $0.7 billion).
- In January the Mixed-Equity Funds macro-group (+$2.7 billion) broke its four-month net-redemption streak. The mixed-asset target horizon funds group (+$3.8 billion) easily made up for the net redemptions witnessed by the mixed-asset target allocation funds group (-$1.4 billion).
- For the third consecutive month the World Equity Funds macro-classification experienced the smallest net inflows of Lipper's major equity groups, taking in just $0.7 billion.

Singapore Fund Flow Report Q3 2008 - RISK AVERSION PEAKS—BOND FUND ACTIVITY EXCEEDS EQUITY FUNDS

lipperclientservices@thomsonreuters.com — Thu, 01 Jan 2009 00:00:00 -0700

• The Singapore unit trust market registered net outflows of S$854.1 million for the third quarter, a significant turnaround from the positive net inflows of S$287.9 million recorded the quarter before.
• All asset types experienced net outflows. The asset type showing the highest net outflows were equity unit trusts, with S$571.4 million of net redemptions—a sharp turnaround from the net inflow of S$212.7 million of the previous quarter.
• For the first time since we started monitoring Singapore fund flows, total inflows of bond funds far exceeded those of equity funds. In the three months under review total inflows of bond products amounted to S$1.728 billion, shooting from the S$1.028 billion of the previous quarter.
• Broadly diversified products and mixed-asset funds—used to enjoying net flow increases—in the third quarter were hit by the unpleasant market mood and ended up with negative net fund flows of S$150.9 million
• Among the other asset classes, we saw net money outflows for commodities and guaranteed funds, with aggregate decreases of S$16.03 million and S$12.39 million, respectively.

Money Market Funds Attract a Net $658.2 Billion in 2008, While Equity Funds Hand Back $176.7 Billion

lipperclientservices@thomsonreuters.com — Wed, 31 Dec 2008 00:00:00 -0700

- The money market funds macro-group (+$127.4 billion) was the only macro-group attracting net flows in December, while stock and mixed-equity funds handed back $27.3 billion and bond funds witnessed $6.7 billion of net redemptions.
- Large-cap funds (-$5.2 billion) continued to be the flows outcast of the U.S. Diversified Equity (USDE) funds group, while small-cap funds (-$1.0 billion) mitigated outflows better than the other capitalization groups during the month.
- In December the Mixed-Equity Funds macro-group (-$0.4 billion) suffered its fourth consecutive monthly redemption. The mixed-asset target horizon funds group (+$2.6 billion) just managed to make up for the net redemptions witnessed by the mixed-asset target allocation funds group (-$2.1 billion).
- For the second month in a row the World Equity Funds macro-classification experienced the largest net outflows of Lipper's major equity groups, handing back $15.5 billion.

Investors Inject a Net $78.5 Billion into the Funds Business in November, Gravitating to Money Market Funds

lipperclientservices@thomsonreuters.com — Sun, 30 Nov 2008 00:00:00 -0700

- The money market funds macro-group (+$121.6 billion) was the only macro-group attracting net flows in November, while stock and mixed-equity funds handed back $26.4 billion and bond funds witnessed $16.7 billion of net redemptions.
- Large-cap funds (-$4.7 billion) continued to be the flows pariah of the U.S. Diversified Equity (USDE) funds group, despite posting better returns than the other capitalization groups during the month.
- In November the Mixed-Equity Funds macro-group (-$4.6 billion) suffered only its fourth monthly redemption since July 2002. The mixed-asset target horizon funds group (+$1.9 billion) could not make up for the net redemptions witnessed by the mixed-asset target allocation funds group (-$5.5 billion).
- In November the World Equity Funds macro-classification recaptured the claim to shame of having the largest net outflows of Lipper's major equity macro-classifications, handing back $11.2 billion.

Investors Seek Refuge in Money Market Funds in October, Adding a Net $38.4 Billion to the Funds Business

lipperclientservices@thomsonreuters.com — Fri, 31 Oct 2008 00:00:00 -0600

- The money market funds macro-group (+$169.1 billion) was the only macro-group attracting net flows in October, while stock and mixed-equity funds handed back $86.3 billion and bond funds witnessed $44.4 billion of net redemptions.
- Large-cap funds (-$16.2 billion) continued to be the outcasts of the U.S. Diversified Equity (USDE) funds group, while small-cap funds (-$3.5 billion) managed to avoid the large losses witnessed by the other capitalization groups.
- In October the Mixed-Equity Funds macro-group (-$19.4 billion) suffered only its third monthly redemptions since July 2002. The mixed-asset target horizon funds group (+$0.9 billion) could not make up for the unprecedented net redemptions witnessed by the mixed-asset target allocation funds group (-$18.4 billion).
- In October the World Equity Funds macro-classification (-$24.1 billion) suffered its worst monthly drawdown in over ten years, surpassing the previous month's record decline of $20.8 billion.

Lipper TASS Asset Flows Report - Second Quarter 2008

lipperclientservices@thomsonreuters.com — Sun, 05 Oct 2008 00:00:00 -0600

Net hedge fund industry inflows edged marginally higher to US$4.03 billion duing the second quarter 2008. This compared to an inflow of US$41.10 billion in second qurter 2007 and US$2.62 billion in first quarter 2008 and reversed albeit modestly a slide in inflows that had been experienced over the previous three quarters.

Lipper TASS Asset Flows Report - Second Quarter 2008

Fri, 03 Oct 2008 00:00:00 -0600

Net hedge fund inflows edged marginally higher to US$4.03 billion during the second quarter 2008. This compared to an inflow of US$41.10 billion in second quarter 2007 and US$2.62 billion in first quarter 2008 and reversed albeit modestly a slide in inflows that had been experienced over the previous three quarters.

Nowhere to Hide--Investors Pull $104.4 Billion From Funds in September

Tue, 30 Sep 2008 00:00:00 -0600

- The bond funds macro-group (+$1.4 billion) was the only group attracting net flows in September, while stock and mixed-equity funds handed back $49.5 billion and money market funds lost $56.3 billion to redemptions.
- Large-cap funds (-$8.1 billion) were the pariahs of the U.S. Diversified Equity (USDE) group, while small-cap funds (-$0.1 billion) managed to avoid the large losses witnessed by the other capitalization groups.
- In September the Mixed-Equity Funds macro-group (-$6.1 billion) suffered only its second monthly redemption since July 2002. The mixed-asset target horizon funds group (+$2.0 billion) could not make up for the net redemptions witnessed by the mixed-asset target allocation funds group (-$7.3 billion).
- In September the World Equity Funds macro-classification (-$20.8 billion) suffered its worst monthly drawdown in over ten years.

In August Investors Exit World Equity Funds, but Overall Fund Flows Remain Positive

lipperclientservices@thomsonreuters.com — Sun, 31 Aug 2008 00:00:00 -0600

- Weary investors drew down stock and mixed-equity funds by an estimated $4.3 billion in a mass exodus out of world equity funds, while adding $6.5 billion to bond funds and $33.0 billion to money market funds.
- Large-cap funds (-$4.0 billion) remained the outcast of the U.S. Diversified Equity (USDE) group, while small-cap and multi-cap funds led the way, cumulatively adding $4.7 billion to the USDE Funds coffers.
- The Mixed-Equity Funds macro-group added $3.5 billion to the conventional funds business in August, with the mixed-asset target horizon funds group (+$3.1 billion) collectively overshadowing the small net redemptions witnessed by the mixed-asset target allocation funds group (-$400 million).
- In August the World Equity Funds macro-classification (-$9.0 billion) suffered its worst monthly drawdown in over ten years.
- For the year-to-date period money market fund flows accounted for 74.6% of inflows into the conventional funds business.

Singapore Fund Flow Report Q2 2008 - INVESTORS STEP ASIDE—WEAKER FUND FLOWS

lipperclientservices@thomsonreuters.com — Fri, 15 Aug 2008 00:00:00 -0600

• The Singapore unit trust market registered net inflows of S$287.9 million for the three months under review, falling sharply from the S$1.289 billion recorded the quarter before.
• The net flows into equity offerings in the second quarter showed improvement—up from the net decrease of S$85.7 million in the first quarter to an aggregate inflow of S$212.7 million—because of attractive valuations in various markets after a series of market fallouts.
• The negative impact from the bond yield surge forced investors to redeem fixed income offerings; we witnessed a net outflow of S$61.5 million during the three months under review, with slow bond fund subscriptions amounting to S$1.028 billion and precipitous outflows of S$1.089 billion.
• Mixed-asset funds had aggregate inflows of S$1.079 billion—almost unchanged from the previous quarter, while their redemptions rose substantially to S$986.7 billion; mixed-asset funds ended up with a small net increase of S$92.8 million
• Net money outflows from protected and guaranteed funds were witnessed, with aggregate decreases of S$18.86 million and S$137.37 million, respectively; while overheated commodity prices rose, more cautious and rational investors provided lower money inflows of S$23.30 million to commodity funds.

Stock and Mixed-Equity Funds Witness First Net Outflows in Four Months, While Fixed Income Funds Pad Their Coffers in July

lipperclientservices@thomsonreuters.com — Thu, 31 Jul 2008 00:00:00 -0600

- Breaking a five-month inflow trend, stock and mixed-equity funds saw $25.8 billion fly out their doors in July, while investors dove for cover in the comforts of bond funds (+$4.0 billion) and money market funds (+$71.5 billion).
- For the first month in four investors pulled money out of USDE Funds (-$17.2 billion), with large-cap funds accounting for the lion's share of defections.
- The Mixed-Equity Funds macro-group (-$0.2 billion) experienced its first net redemption since July 2002, but target date funds and flexible income funds managed to attract assets in July. Year to date Mixed-Equity Funds reeled in $47.2 billion, outpacing the other equity macro-classifications.
- Interest in World Equity Funds waned in July, with the group shedding about $7.2 billion during the month.
- For the year-to-date period money market fund flows accounted for 72.7% of inflows into the conventional funds business.

Despite Poor Returns in June, Equity and Fixed Income Funds Witness Net Inflows, While Money Market Funds Suffer Net Redemptions

lipperclientservices@thomsonreuters.com — Mon, 30 Jun 2008 00:00:00 -0600

- For the second month in three, investors drew down money market funds (-$72.3 billion), but they added money for the fifth consecutive month to stock and mixed-equity funds (+$9.2 billion) and bond funds (+$3.1 billion).
- For the third consecutive month investors added assets to USDE Funds (+$1.0 billion).
- After a one-month setback net flows into the Mixed-Equity Funds macro-group (+$5.2 billion) outpaced those of all other equity fund macro-classifications. Year to date the group has attracted $47.4 billion, outpacing the other equity macro-classifications.
- World Equity Funds, taking in about $1.6 billion in June, drew in the second largest net flows in the equity universe.
- For the year to date money market fund flows accounted for 61% of inflows into the conventional funds business.

Lipper TASS Asset Flows Report, First Quarter 2008

lipperclientservices@thomsonreuters.com — Mon, 16 Jun 2008 00:00:00 -0600

Net hedge fund industry inflows slumped to US$2.62 billion during the first quarter 2008. This, combined with a negative performance figure of roughly US$36 billion led to estimted net hedge fund industry assets of US$1.75 trillion as of March end 2008, down from an estimated US$1.79 trillion reading at the end of December 2007.

Lipper TASS Asset Flows Report, First Quarter 2008

Sun, 15 Jun 2008 00:00:00 -0600

Net hedge fund industry inflows slumped to US$2.62 billion during the first quarter 2008. This, combined with a negative performance figure of roughly US$32 billion led to estimated net hedge fund industry assets of US$1.75 trillion as of March end 2008, down from and estimated US$1.79 trillion reading at the end of December 2007.