Mutual Fund Flows Retreat in May
Stock and bond funds experienced net outflows of $2.9 billion in May, according to data from the Financial Research Corporation (FRC).
The Corporate Bond objective led the net inflow category with $4.3 billion, followed by the Tax-Free Bond objective with $3.4 billion. The Equity objective saw a $9.3 billion outflow.
By Morningstar category, Equity Precious Metals drew in nearly $7 billion, while Short-term Bond posted a net inflow of nearly $5 billion, and Intermediate Term bond saw a $4 billion net inflow.
SSgA’s SPDR Gold Shares attracted $5 billion to lead the fund sales charts. PIMCO Total Return was a distant second, taking in $3.6 billion, and SSgA’s SPDR S&P 500 ETF posted a net inflow of $2.2 billion.
The Mutual Fund Net Flows release includes ETFs and excludes money market funds in its universe of mutual funds.
FRC data can be found at http://www.frcnet.com.
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