CHICAGO, Sept. 26, 2017 /PRNewswire/ -- Morningstar, Inc.
(NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for August 2017. In August, investors put $8.5 billion into U.S. equity passive
funds, down from $10.8 billion in July 2017. On the active front,
investors pulled $23.0 billion out of U.S. equity funds, compared with $19.6
billion in the previous month. Morningstar estimates net flow for mutual funds by computing the change in assets not
explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.
Morningstar's report about U.S. asset flows in August is available here. Highlights from the
report include:
- Taxable bond remained the leading category group in August with $27.5 billion in flows
overall. Unlike in June and July, however, active taxable-bond flows surpassed passive ones: $14.1
billion versus $13.3 billion.
- The four Morningstar Categories with the highest inflows in August are: intermediate-term bond, foreign large blend,
multisector bond, and diversified emerging markets. Large blend did not make the top five categories, reflecting waning
interest in U.S. equity.
- Among top U.S. fund families, PIMCO was the leader in active flows with $4.1 billion,
followed by Vanguard with $1.4 billion. On the passive front, Vanguard was the top fund family,
with inflows of $19.3 billion, followed by BlackRock/iShares with inflows of $9.9 billion and Fidelity, who is becoming a stronger contender after multiple rounds of fee cuts.
- The two active funds with the highest inflows were the same in August as they were in July: PIMCO Income, which has a
Morningstar
Analyst Rating™ of Silver, with flows of $3.1 billion, followed by Gold-rated Oakmark
International with $911.0 million in flows. The passive funds with the highest inflows were both
Vanguard funds: Gold-rated Vanguard Total Stock Market Index Fund and Gold-rated Vanguard Total International Stock Index Fund,
which saw respective inflows of $6.2 billion and $2.5 billion.
- BlackRock High Yield Bond had the highest outflows in August of $1.4-billion. Growth funds
from Fidelity, T. Rowe Price, and American Funds were also subject to large outflows as
investors kept moving away from U.S. equity and growth stocks.
To view the complete report, please click here.
The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or
distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are
responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future
results.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America,
Europe, Australia, and Asia.
The company offers an extensive line of products and services for individual investors, financial advisors, asset managers,
retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and
research insights on a wide range of investment offerings, including managed investment products, publicly listed companies,
private capital markets, and real-time global market data. Morningstar also offers investment management services through its
investment advisory subsidiaries, with more than $200 billion in assets under advisement and
management as of June 30, 2017. The company has operations in 27 countries.
Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not
limited to, Morningstar Research Services LLC. Morningstar's Manager Research Group produces various ratings including the
Morningstar Analyst Rating for funds and the Morningstar Quantitative Rating for funds. The Analyst Rating is derived from a
qualitative assessment process performed by a manager research analyst, whereas the Morningstar Quantitative Rating uses a
machine-learning model based on the decision-making processes of Morningstar's analysts, their past ratings decisions, and the
data used to support those decisions. In both cases, the ratings are forward-looking assessments and include assumptions of
future events, which may or may not occur or may differ significantly from what was assumed. The Analyst Ratings and Quantitative
Ratings are statements of opinions, subject to change, are not to be considered as guarantees, and should not be used as the sole
basis for investment decisions. This press release is for informational purposes only; references to securities should not be
considered an offer or solicitation to buy or sell the securities.
©2017 Morningstar, Inc. All Rights Reserved.
MORN-R
Media Contact:
Sarah Pellegrino, +1 312 244-7358 or sarah.pellegrino@morningstar.com
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SOURCE Morningstar, Inc.