by Tom Roseen.
Investors were net purchasers of mutual fund assets for the fifth month in a row, injecting $52.8 billion into the conventional funds business (excluding ETFs, which are reviewed in the section below) for April. For the third month in four, stock & mixed-assets funds experienced net outflows (-$31.1 billion) for April. With Federal Reserve officials doubling down on their belief that the near-term rise in inflation will be transitory and a flattening Treasury yield curve, investors continued to pad the coffers of fixed income instruments, pushing the fixed income funds macro-group to its twelfth consecutive month of net inflows, attracting $55.3 billion for April. Money market funds (+$28.7 billion) witnessed net inflows for the third consecutive month.
For the twentieth straight month, ETFs witnessed net inflows, taking in $81.1 billion for April. Authorized participants (APs—those investors who actually create and redeem ETF shares) were net purchasers of stock & mixed-assets ETFs for the eleventh consecutive month, injecting $52.8 billion into equity ETF coffers. And for the thirteenth month in a row, they were net purchasers of bond ETFs—injecting $28.3 billion for the month. APs were net purchasers of all five equity-based ETF macro-classifications, padding the coffers of U.S. Diversified Equity ETFs (+$27.5 billion), World Equity ETFs (+$12.0 billion), Sector Equity ETFs (+$11.8 billion), Mixed-Assets ETFs (+$815 million), and Alternatives ETFs (+$728 million). Over the last four months, Stock & Mixed-Assets ETFs took in $246.7 billion and Bond ETFs attracted $70.3 billion of net new money.
In this report, I highlight the April 2021 fund-flows results and trends for both ETFs and conventional mutual funds.
Click here to download the April 2021 FundFlows Insight Report: Investors Inject $83.6 Billion into Bond Funds/ETFs in April.
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