Equity fund net inflows reached an estimated $12 billion during April. Strategic Insight said about half of these net flows were to international/global equity funds, and domestic equity fund flows reflected gains in stock markets.
Bond fund inflows neared $20 billion in April, adding to the $51 billion in inflows during the first quarter. Most of the flows went to taxable bond funds, while tax-free bond funds gained about $4 billion during April.
Money market funds’ net redemptions were $42 billion for the month. Strategic Insight said this was likely mostly driven by payment of taxes.
“The continuing recovery of global stock markets in May suggests further gains in fund flows during this month,’ said Avi Nachmany, Strategic Insight’s Director of Research, in a press release.