CHICAGO, Sept. 14, 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 August 2011. Redemptions from long-term mutual
funds nearly doubled to approximately $32.5
billion in August after outflows of about $17.1 billion in July. August marked the most
severe mutual fund outflows since November
2008. U.S. ETFs collected assets of just $947 million in August following July's inflows
of $17.2 billion. Although August's
inflows were meager, U.S. ETFs have realized only a single month of
outflows in the trailing 12.
Additional highlights from Morningstar's report on mutual
fund flows:
- Despite August market volatility, U.S.-stock outflows fell to
$15.5 billion during the month after
redemptions of $22.9 billion in
July.
- As an indication that risk aversion has spread to fixed income,
investors pulled $12.0 billion from
taxable-bond funds in August. Bank-loan and high-yield bond funds
were hardest hit, with outflows of $7.3
billion and $5.1 billion,
respectively.
- With assets fleeing all of the major asset classes during
August, investors found refuge of a sort in money market funds,
which saw inflows of $74.8 billion.
This total was the biggest monthly inflow for such funds since
January 2009, and partially reversed
June and July's combined $150.0
billion in outflows.
- Modest outflows continued for international-stock and balanced
funds in August. The asset classes experienced respective outflows
of $2.9 billion and $2.3 billion.
Additional highlights from Morningstar's report on ETF
flows:
- U.S. stock ETFs, which typically drive overall ETF flows, saw
inflows of just $394 million in
August.
- International-stock ETFs lost $5.5
billion during the month, the greatest outflow for any ETF
asset class. This outflow also marks the largest monthly net
redemption for international-stock ETFs in the past three
years.
- Taxable-bond offerings, which added another $4.3 billion in August, saw greater inflows than
any of the other ETF asset classes during the month.
- Commodities ETFs experienced outflows of nearly $2.0 billion in August.
To view the complete report, please visit
http://www.global.morningstar.com/augflows11. 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.