Equity Funds Ended Higher in October

Despite global economic concerns of slowing growth, average equity fund returns ended in positive territory for October, according to Strategic Insight (SI), an Asset International company.

Long-term fund type net inflows totaled $29.6 billion for the month. Inflows to U.S. Equity totaled $20 billion, leading net intake to equity products, which amounted to $16.8 billion. U.S. Equity funds returned 2.4%, while international equity fund returns were at 0.2%.

October was the first month of 2014 which saw outflows from international equity funds, SI notes. However, net redemptions were limited to $3.2 billion. 

Bond funds attracted $12.9 billion throughout the month via inflows to Corporate Bond General ($12.5 billion), Government Short Maturity ($6.5 billion), and Corporate High Quality ($6.1 billion). Additionally, Taxable Bond and Tax-Free Bond returns were positive at 0.7% and 0.6%, respectively. Money market fund net deposits amounted to $9.1 billion.

Information on how to obtain research reports from Strategic Insight is available at www.sionline.com.