by Tom Roseen.
Investors were net purchasers of mutual fund assets for the first month in three, injecting $44.6 billion into the conventional funds business (excluding ETFs, which are reviewed in the section below) for August. For the fifth month in a row, stock & mixed-assets funds experienced net outflows (-$18.1 billion). And despite the Treasury yield curve experiencing minor steepening for the month, the fixed income funds macro-group took in net new money for the sixteenth consecutive month, taking in $38.9 billion for August. Money market funds (+$23.8 billion) attracted net new money for the first month in three. Over the last eight months, conventional stock & mixed-assets funds handed back $185.6 billion, while bond and money market funds attracted $383.6 billion and $197.6 billion, respectively, of net new money.
For the twenty-fourth straight month, ETFs witnessed net inflows, taking in $68.4 billion for August. Authorized participants (APs—those investors who actually create and redeem ETF shares) were net purchasers of stock & mixed-assets ETFs for the fifteenth consecutive month, injecting $48.9 billion into equity ETF coffers. And for the seventeenth month in a row, they were net purchasers of bond ETFs—injecting $19.5 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 (+$33.5 billion), World Equity ETFs (+$8.7 billion), Sector Equity ETFs (+$4.8 billion), Alternatives ETFs (+$1.4 billion), and Mixed-Assets ETFs (+$576 million). Over the last eight months, stock & mixed-assets ETFs took in $434.0 billion and bond ETFs attracted $145.1 billion of net inflows.
In this report, I highlight the August 2021 fund-flows results and trends for both ETFs and conventional mutual funds.
Click here to download the August 2021 FundFlows Insight Report: Investors Prefer Large-Cap ETFs Over Large-Cap Funds in August.
Refinitiv Lipper delivers data on more than 330,000 collective investments in 113 countries. Find out more.
Join a growing community of asset managers and stay up to date with the latest research from Refinitiv and partners to help you inform your investment decisions. Follow our Asset Management LinkedIn showcase page.