CHICAGO, Aug. 11, 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 July 2011. July's long-term mutual fund outflows
of $17.1 billion marked the greatest
monthly net redemption since December
2008, again fueled by the flight out of U.S.-stock funds.
The asset class shed $22.9 billion in
July, the greatest outflows since investors withdrew $27.9 billion during the peak of the credit
crisis in October 2008. U.S. ETFs saw
inflows of $17.2 billion in July,
building on inflows of $9.8 billion a
month earlier. Total ETF assets have increased roughly 25 percent
over the trailing 12 months.
Additional highlights from Morningstar's report on mutual
fund flows:
- Combined June and July money market outflows approached
$150.0 billion, as investor fears
about the government's failure to raise the debt ceiling and a
potential credit freeze likely led many to shift assets to the
greater liquidity of savings accounts.
- International-stock funds shed $3.7
billion in July, but inflows of $1.3
billion into diversified emerging-markets stock funds
curtailed greater losses. Foreign large-cap, world-stock, and
moderate-allocation funds all sustained outflows of at least
$2.0 billion.
- Taxable-bond funds collected inflows of $8.9 billion in July, while municipal-bond fund
flows were relatively flat for the third consecutive month. Flows
into the national municipal-bond categories continued to
strengthen, while single-state categories again saw outflows.
- After interest picked up in June, investors fled
government-bond funds in July. After contributing $1.5 billion to these funds a month earlier,
investors pulled $1.3 billion from
the three main government-bond categories in July.
Additional highlights from Morningstar's report on ETF
flows:
- U.S.-stock ETFs collected inflows of $6.4 billion in July to top all other ETF asset
classes for the second consecutive month.
- After outflows of $3.7 billion
and $892 million in May and June,
respectively, commodities ETFs reversed course in July and recorded
inflows of $3.7 billion.
Precious-metals offerings accounted for the majority of inflows
into commodities ETFs.
- Taxable-bond ETFs made another solid contribution to overall
ETF inflows in July, with $3.3
billion in new assets. The asset class has not seen a net
monthly outflow since December 2010.
- International-stock ETFs built on June's inflows of
$2.4 billion with inflows of
$3.8 billion in July.
To view the complete report, please visit
http://www.global.morningstar.com/julyflows11. 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 400,000
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
through its investment management subsidiaries and has more than
$180 billion in assets under
advisement and management as of June 30,
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.