This was a turnaround for Domestic Equity funds which experienced net outflows of $285 million in September. Corporate Fixed Income funds posted net inflows of almost $8 billion, while Government funds posted a net outflow of $2 billion, FRC data showed.
By Morningstar category, October was a repeat of September with Large Value funds taking in $3.8 billion in assets, Foreign Large Blend taking in $3.2 billion and Intermediate-Term Bond funds experiencing net inflows of $2.9 billion.
State Street Global Advisors pushed ahead as the best selling fund group for the month of October with an intake of $7.5 billion. American Funds followed with $7.1 billion in net inflows. Barclays Global Investors ($7 billion), Franklin Templeton Investments ($6.3 billion), and Vanguard Group ($4.7 billion) rounded out the top five.
There was a mixed bag of best selling funds in October, with offerings from five different fund groups in the top five. State Street’s SPDR Trust took in $5.6 billion for a strong lead. Franklin Templeton’s Templeton Growth fund came in second with a $2.7 billion intake, followed by the Eaton Vance Inst S-T Trs fund with a $1.5 billion intake.
Complete FRC data can be found at www.frcnet.com.