CHICAGO, July 13, 2011 /PRNewswire/ -- 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 2011. Long-term mutual fund flows turned
negative in June for the first time since December 2010, losing $4.5
billion after May inflows of $22.6
billion. Risk-aversion reigned as investors pulled about
$18.0 billion from U.S.-stock funds
in June to mark the worst monthly outflow for the asset class since
the peak of the credit crisis in October
2008. Investors lost their taste for credit risk, too, as
they withdrew a net $6.3 billion from
high-yield funds. U.S. ETFs saw inflows of $9.8 billion in June after outflows of
$3.1 billion in May. Total U.S. ETF
industry assets are up about 38 percent over the trailing 12
months.
Additional highlights from Morningstar's report on mutual
fund flows:
- Investors redeemed about $41.4
billion from money market funds in June, the greatest
monthly outflow for these funds since January.
- In June, the gap between active and passive flows reached its
widest point—nearly $20 billion—since
May 2009. Actively managed U.S.-stock
funds accounted for all of June's outflows, while passively managed
offerings saw inflows of nearly $1.1
billion.
- While international-stock funds, with outflows of $1.3 billion in June, did not suffer as much as
their U.S. counterparts, several categories within the asset class
took a beating. World-stock funds, for instance, have endured
outflows in 23 of the past 24 months.
- Flows into taxable-bond funds dropped to $11.9 billion from about $20.8 billion in May, with most of these
redemptions coming from high-yield offerings. Municipal-bond funds
continue to turn the corner, registering inflows of nearly
$1.0 billion in June.
Additional highlights from Morningstar's report on ETF
flows:
- U.S.-stock ETFs had inflows of $3.3
billion in June to top all ETF asset classes. U.S.-stock
ETFs experienced the second-largest ETF asset class-level outflow
of $2.7 billion last month, second
only to commodities ETFs.
- Investors added $2.4 billion to
international-stock ETFs in June. Flows have changed direction
almost monthly for this asset class, which saw outflows of
$1.1 billion in May.
- Commodities ETFs realized the largest monthly outflow of any
ETF asset class for the second consecutive month. With redemptions
of $892 million, commodities ETFs
were also the only ETF asset class with outflows in June.
- For the past four months, taxable-bond ETFs had contributed
meaningfully to net U.S. ETF flows. The asset class saw inflows of
$3.1 billion in June, its
second-highest monthly inflow in the last 12 months.
To view the complete report, please visit
http://www.global.morningstar.com/juneflows11. For more information
about Morningstar Fund Flows, please visit
http://global.morningstar.com/fundflows.
The information contained herein: (1) is proprietary to
Morningstar and/or its content providers; (2) may not be copied or
distributed; and (3) is not warranted to be accurate, complete, or
timely. Neither Morningstar nor its content providers are
responsible for any damages or losses arising from any use of this
information. Past performance is no guarantee or future
results.
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
products and services for individuals, financial advisors, and
institutions. Morningstar provides data on approximately 390,000
investment offerings, including stocks, mutual funds, and similar
vehicles, along with real-time global market data on more than 5
million equities, indexes, futures, options, commodities, and
precious metals, in addition to foreign exchange and Treasury
markets. Morningstar also offers investment management services and
has nearly $140 billion in assets
under advisement and management as of March
31, 2011. The company has operations in 26 countries.
©2011 Morningstar, Inc. All rights reserved.
MORN-R
Media Contact:
Carling Spelhaug, 312-696-6150 or
carling.spelhaug@morningstar.com
SOURCE Morningstar, Inc.