CHICAGO, Oct. 12, 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 September 2011. Long-term mutual fund flows
turned positive in September for the first time in three months
with inflows of $3.8 billion.
However, that did not necessarily signal positive sentiment, as
inflows were tepid across most asset classes and U.S.-stock funds
experienced additional outflows. Furthermore, outflows from money
market funds no longer appear to be flowing into long-term mutual
funds. For the year to date, including another $14.1 billion in September, investors redeemed
about $70.0 billion more from money
market funds than they added to long-term mutual funds. U.S. ETFs,
which have seen just one month of net outflows in the last 12
months, added $4.1 billion in
September. Nevertheless, total industry assets dipped below
$1.0 trillion in September for the
first time since December 2010.
Additional highlights from Morningstar's report on mutual
fund flows:
- While U.S.-stock funds continued their run of outflows, losing
another $6.9 billion during the
month, September was the best month for the asset class since May.
However, with the exception of large-blend funds, the eight other
major domestic-equity categories all suffered outflows.
- International-stock funds saw positive, yet modest inflows of
$3.2 billion. Diversified
emerging-markets funds again accounted for the majority of these
inflows. The category recorded inflows of $2.7 billion, its greatest monthly intake since
March 2011.
- Taxable-bond funds bounced back in September with inflows of
$3.5 billion after shedding
$12.0 billion in August, but this
monthly inflow is well below the three-year monthly average of
$16.1 billion for the asset
class.
- Municipal-bond funds enjoyed their best month in nearly a year
with inflows of $1.7 billion.
Additional highlights from Morningstar's report on ETF
flows:
- For the second consecutive month, taxable-bond ETFs had the
strongest inflows of any Morningstar ETF asset class, collecting
$5.0 billion.
- Behind taxable-bond offerings, international-stock ETFs, with
$2.4 billion, realized the
second-largest asset-class-level inflow in September.
- After managing inflows of just $394
million in August, U.S.-stock ETFs gave up $5.3 billion in September. Four of the five
largest individual ETF outflows belonged to funds in the U.S.-stock
asset class.
- Commodities ETFs experienced modest outflows of $200 million in September.
To view the complete report, please visit
http://www.global.morningstar.com/septflows11. To view a video
recapping September's U.S. fund flow trends, please visit
http://www.morningstar.com/cover/videocenter.aspx?id=397197. 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.