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Strategic Insight: Mutual Fund Inflows Totaled $13.5 Billion in June

Photo credit: jscreationzs
Photo credit: jscreationzs

Long-term inflows of U.S. mutual funds totaled $13.5 billion in June, representing a 1.9% organic growth rate, according to a new report.

Strategic Insight, New York, published this finding in the June release of its Simfund/MF data report, which provides a detailed view into mutual fund asset, flow, and performance trends. The data reflects only U.S. mutual funds, which in some cases represent only a minority of a company's total assets under management. Organic growth and attrition rates are (unless otherwise noted) annualized.

The report finds that long-term product flows remained “muted” in June. But ETFs saw a substantial rebound in flows for the month: Inflows totaled about $13 billion.

Fund provider T. Rowe Price continues to generate the strong organic growth with June inflows of $1.1 billion, representing 4.6% organic growth and inflows of $6.4 billion (8.3% organic growth) for the quarter.

Fund provider Eaton Vance continued to endure outflows driven by the large cap value fund, although outflows for the fund slowed materially to $300 million. Sizable outflows from floating rate funds also contributed to the outflows.

Fund provider Legg Mason generated $1.3 billion of long-term inflows, driven by a combination of a $700 million closed-end fund launch, strong flows into the Clearbridge Aggressive Growth fund, and continued solid flows into the Brandywine Global Allocation fund given strong performance metrics.

Investco’s Balanced Risk Allocation fund generated $737 million of inflows in a month when most global allocation funds endured outflows, the report says.

For the quarter actively managed funds had $184 million of inflows while Powershares endured roughly $1.4 billion of outflows.

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