The Corporate Bond objective led the net inflow category with $16.6 billion, followed by equity with only half the amount of inflows ($8.5 billion).The International/Global Equity category took in $6.9 billion, while Tax-free Bond posted inflows of $6 billion and Government Bond gained $4.5 billion.
The sole loser for the month was the International/Global Fixed Income objective, as it posted a net outflow of $447 million, FRC said in a press release.
By Morningstar Category, Bear Market funds pulled in a net $8.6 billion for the month, followed by Intermediate-term Bond funds with $8 billion. High Yield Bond funds were a distant third with a net inflow of $4 billion.
The PIMCO Total Return Fund won the best selling funds category with a net $3.9 billion intake, FRC data showed. The Vanguard Total Bond II Fund and the Fidelity Large Cap Value Fund took in $2.3 billion and $2.1 billion, respectively. Direxion:Finl Bear 3X and ProShares:UltraSht 500 rounded out the top five with just over $1.8 billion each.
More information is available at www.frcnet.com.