The inflows were far below those seen in the previous month when inflows reached $26.7 billion (See Funds Solidly in Positive Territory in July ).
Domestic Equity funds took the lead in August, with $4.5 billion in net inflows, followed by International/Global funds with $1.24 billion in net intake. Corporate funds saw an outflow of $2.5 billion, Tax-free funds experienced outflows of $1.02 billion, and Government funds, an outflow of $379 million.
By Morningstar category, Large Blend funds took in $14.2 billion in August, Intermediate Term Bond funds brought in $2.6 billion, Foreign Large Blend funds, $2.4 billion and World Allocation funds, $2.03 billion.
State Street Global Advisors took the top spot in terms of best-selling fund group, with inflows of $14.5 billion for the month, followed by Vanguard Group, with $3.29 billion, American Funds, $3.28 billion and Evergreen Investments, with $1.69 billion.
In terms of the best selling funds, State Street’s SPDR Trust saw the greatest inflows of $13.04 billion, followed by the Vanguard Total Stock Index, with inflows of $1.42 billion, State Street’s Sel Sector Finl S SPDR, with inflows of $1.42 billion.