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Friday, September 17, 2010

fund flows for august:: eyes on the rearview mirror

 from Morningstar

Fund Spy

Long-term open-end fund flows increased by more than 11% in August, and once again the lion's share went to fixed-income funds. Taxable-bond funds attracted $24.6 billion in new money for the month, and municipal-bond funds absorbed another $5.2 billion. Taxable-bond funds have now taken in $168.4 billion for the year to date. Alternative strategies also took in a robust $3.1 billion in August.
Intermediate-term bond funds dominated once again, taking in nearly $18.5 billion for the month....

Meanwhile, the relentless outflows continued for U.S. stock funds, as another $14.3 billion headed for the exits. This continues the renewed aversion to domestic-equity funds that began with May's flash crash. During the past four months alone, these funds have shed a combined $48.9 billion.

Aggregate bond etf (AGG) vs S+P 500 chart for the last two months

Those that moved from bonds into stocks in august, missed the 5.5% sp 500 rally  since sep 1 which has pushed the S+P 500 into positive territory for the year

gmar tov


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