August 13, 2012 (PLANSPONSOR.com) - Long-term mutual fund flows were $24.6 billion in July, following just $10.8 billion in June.
According to Morningstar, the $13.8 billion increase in flows from June to July was primarily attributable to a spike in taxable bond inflows, which more than doubled to $23.6 billion.
U.S. stock outflows declined slightly to $8.2 billion from $8.5 billion in June. If exchange-traded fund (ETF) inflows were included, then U.S. stock outflows were just $700 million in July.
Diversified emerging-market equity funds took in over $1.3 billion in July, but momentum has been slowing since February when the category welcomed nearly $3.2 billion in new money.
PIMCO ended Vanguard's run at the top of the monthly leader board, absorbing nearly $6.6 billion in new money in July, led by its Total Return fund, which accounted for $2.1 billion in inflows. On the flip side, the American Funds extended its consecutive-outflows streak to 37 months, with nearly $4.2 billion exiting the family. To view the complete report, visit http://www.global.morningstar.com/julyflows12.