Mutual Funds See July Asset Falloff

Stock and bond funds experienced net outflows of $3.9 billion in July, according to Finance Research Corporation (FRC) data.

This compares to June’s performance, where stock and bond funds experienced net inflows of $20.2 billion (see Mutual Fund Assets Drop 5% in June).

According to an FRC news release, International/Global Equity funds experienced the largest net outflows in July of $7.6 billion, followed by Domestic Equity funds with $3.5 billion. On the plus side in July, Government bond funds enjoyed just over $4 billion of inflows, while Tax-Free Bond funds saw assets advance by $2.2 billion.

By Morningstar category, the biggest July winner was Specialty-Precious Metals funds with a $4.8-billion advance, followed by Large Blend at $3.5 billion, Specialty Financial at $1.9 billion, and Inflation-Protected Bond funds at $1.8 billion.

State Street Global Advisors’ (SSgA’s) SPDR Trust and streetTRACKS Gold products attracted $4.8 and $4.3 billion of net inflows, respectively, to lead the fund sales charts. Barclay’s iShares MSCI Emerging Market saw a $2.5 billion advance, while ProShares’ ProShares:UlS Financials enjoyed a $1.7 billion increase.

The top five fund families measured by asset size were: American Funds, the Vanguard Group, Fidelity Investments, Barclays Global Investors, and Franklin Templeton Investments.