For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Investing September 30, 2011
Mutual Funds See Even Bigger Exits in August
September 30, 2011 (PLANSPONSOR.com) - Stock and bond funds experienced net outflows of $32.8 billion from long term funds, while garnering net inflows of $1.4 billion from ETFs in August, according to data from the Financial Research Corporation (FRC).
Reported by Rebecca Moore
This follows net outflows of $14.6 billion in July (see Stock and Bond Funds Experience Net Outflows in July).
The equity objective saw the biggest exit, with a net outflow of $20.6 billion, followed by the corporate objective, with a $14.3 billion net outflow. International/global equity was the best selling objective in long-term funds ($3.3 billion), while Equity was the best selling objective in ETFs ($2.4 billion).
The SPDR S7P 500 ETF Trust was the best selling fund in August, posting a net inflow of $3.7 billion. Vanguard Total Stock Market Index ($3.4 billion), SPDR Barclays Cap 1-3 T-Bill ($2.1 billion), Templeton Global bond ($1.8 billion), and Market Vectors Gold Miners ($1.6 billion) rounded out the top five.
More information is available at http://frcnet.com.