CHICAGO, Aug. 11 /PRNewswire-FirstCall/ -- 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 July 2010. Overall flows into U.S. open-end
mutual funds increased slightly in July to $14.1 billion. Almost universally, outflows
increased for equity and balanced funds, and inflows rose for bond,
alternative, and commodity funds. U.S. ETFs registered total net
inflows of $6.8 billion in July,
marking the sixth consecutive month of positive asset flows. Total
ETF assets are up 6% since the start of the year and 29% over the
trailing 12 months.
Additional highlights from Morningstar's report on mutual
fund flows:
- Bond funds had another strong month of inflows, with investors
adding $22.3 billion to taxable-bond
funds and $3.9 billion to
municipal-bond funds, approximately double the inflows
municipal-bond funds saw in June.
- Nearly $12.4 billion exited
domestic-equity funds in July, but international-stock funds saw
less severe outflows of $565 million.
Flows into emerging-markets equity funds offset redemptions from
broader foreign-stock funds. Emerging-markets equity funds had
roughly $161.4 billion in total
assets as of the end of July, up nearly 41% over the trailing 12
months.
- Emerging-markets bond fund assets more than doubled to
$30.8 billion over the last year
after taking in more than $1.2
billion in July. A significant portion of these flows were
allocated to local-currency emerging-markets bond funds, led by
PIMCO Emerging Local Bond Fund with inflows of nearly $3.6 billion over the trailing 12 months.
- PIMCO and Vanguard led all fund families in terms of total
inflows in July, taking in $5.9
billion and $4.9 billion,
respectively. American Funds continued to see significant outflows
with another $4.6 billion in
redemptions in July.
Additional highlights from Morningstar's report on ETF
flows:
- Inflows into emerging-markets ETFs helped make
international-stock funds, which saw inflows of $4.6 billion, the most popular ETF asset class in
July. Vanguard Emerging Markets Stock VWO was the top asset
gatherer within the international-stock asset class as well as the
overall U.S. ETF universe, with $2.3
billion in net inflows in July. Investors also expressed a
renewed interest in single-country ETFs to gain precise
international exposure while avoiding struggling Eastern European
countries.
- Commodity ETFs saw net outflows in July for the first month
since February. Although iShares COMEX Gold Trust IAU gathered
assets of $209 million during the
month, the asset class saw redemptions of $1.8 billion, led by SPDR Gold Shares GLD with
$1.4 billion in outflows.
- Fixed-income ETFs remained popular in July, but investors
favored the short end of the yield curve to the longer end. ETFs in
the long government and long-term bond Morningstar categories saw
combined total net inflows of $1.1
billion, while short government and short-term bond ETFs
experienced outflows of $446
million.
- U.S. stock ETFs saw outflows of $91
million in July, as inflows into small-cap funds were not
enough to offset outflows from large-cap funds. Investors added
$2.3 billion to the iShares Russell
2000 Index IWM, bolstering ETFs in the small-blend category,
whereas redemptions from SPDR S&P 500 SPY drove outflows from
large-cap U.S. stock ETFs.
To view the complete report, please visit
http://www.global.morningstar.com/julyflows10. For more information
about Morningstar Fund Flows, please visit
http://global.morningstar.com/fundflows.
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 360,000 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.
©2010 Morningstar, Inc. All rights reserved.
MORN-R
Media Contact:
Carling Spelhaug, 312-696-6150
or carling.spelhaug@morningstar.com
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SOURCE Morningstar, Inc.
Copyright . 11 PR Newswire