Domestic Equities Still Leading in November Fund Flows
Once again, it was domestic equities that led net inflows among fund types, netting $15.5 billion, while International/Global came in a distant second place, taking in $3.66 billion. Otherwise, the only other positive inflow was the $1.56 billion recorded among Corporate bonds while the other fund categories – Government and Tax-Free – recorded net outflows for the month of $2.4 billion and $1.3 billion, respectively, according to a Financial Research Corporation (FRC) report. The November report mirrored inflows in October (See Funds Draw $23 Billion in October Inflows).
Per Morningstar fund category, moderate allocation took the top prize, accumulating $3.52 billion in the month. This was followed by Small Blend with $1.9 billion in net inflows. The rest of the top five was composed of:
- Large Blend – $1.8 billion
- Large-Cap Value – $1.6 billion
- Foreign Large Value – $1.5 billion.
Fund Families
Vanguard Group and Fidelity Investments held the top fund group spots, with $588 billion and $587 billion, respectively. Behind the two sizeable fund families in the total asset race were:
- American Funds – $453 billion
- Franklin Distributors Inc. – $180 billion
- PIMCO – $138 billion.
Among October best sellers was American Funds at the top, netting an $8.3 billion inflow. This was followed up by Vanguard’s $5.5 billion, Fidelity’s $3.3 billion, and Dodge & Cox’s $1.6 billion.
Year-to-date, the top five list showed American Funds on top with $57 billion in net flow, followed by:
- Vanguard – $32 billion
- Fidelity – $22 billion
- PIMCO – $18.2 billion
- Dodge & Cox – $12.8 billion.
Top Sellers
American Funds dominated the top selling individual funds for the month. In the top slots for October were:
- American Funds Growth Fund – $1.7 billion
- Vanguard Total Stock Index – $1 billion
- American Funds EuroPac Growth – $943 million
- American Funds Balanced – $936 million
- Dodge & Cox’s Stock Fund – $878 million.