The Investment Company Institute (ICI) had different data, which was also released Monday (see “ICI: Mutual Funds Report More Modest Drop in August“). The ICI said the combined assets of the nation’s mutual funds decreased by $9.50 billion, or 0.08%.
According to FRC data, domestic equity funds experienced the largest net inflows for the month – $12.9 billion – while government funds came in a distant second with $2.9 billion in net inflows. International/Global equity funds experienced a net outflow of $21.5 billion.
By Morningstar category, large blend funds brought in a net $7.5 billion in August. Intermediate-bond funds posted a net intake of $2.7 billion, followed by specialty-financial funds with a net intake of $2.1 billion.
State Street Global Advisors’ SPDR S&P 500 ETF led the sales chart, bringing in a net $3.6 billion for the month. PIMCO’s Total Return fund and Capital International’s Emerging Markets Growth fund took the second and third spots with net intakes of $1.7 billion and $1.6 billion, respectively.
Information on purchasing FRC’s data is available at www.frcnet.com.