Once again, it was domestic equities that led net inflows among fund types, netting $16 billion, while International/Global came in a distant second place, taking in $7.2 billion. Otherwise, the only other positive inflow was noted in the $2.9 billion recorded among Corporate bonds while the other fund categories – Government and Tax-Free – recorded net outflows for the month of $2.2 billion and $702 million, respectively, according to a Financial Research Corporation (FRC) report. The October report followed similarly healthy inflows in September (See FRC: $20.9 Billion Added to Funds in September ).
Per Morningstar fund category, it was moderate allocation that took the top prize, accumulating $3.6 billion in the month. This was followed by Large-Cap Value, gaining $3.billion in terms of net flows. The rest of the top five was composed of:
- High-Yield Blend – $1.8 billion
- Large-Cap Growth – $1.6 billion
- Small-Cap Growth – $1.4 billion
Vanguard Group and Fidelity Investments held the top fund group spots, with $578 billion and $575 billion, respectively. Behind the two sizeable fund families in the total asset race were:
- American Funds – $439 billion
- Franklin Distributors Inc. – $176 billion
- Putnam Investments – $142 billion.
Among October best sellers was American Funds at the top, netting a $7 billion inflow. This was followed up by Vanguard’s $3.7 billion, Fidelity’s $3.3 billion, and Franklin Distributors’ $1.7.billion.
Year-to-date, the top five list showed American Funds on top with $48 billion in net flow, followed by:
- Vanguard – $26.7 billion
- Fidelity – $19.2 billion
- PIMCO – $17.3 billion
- Dodge & Cox – $11.2 billion.
American Funds dominated the top selling individual funds for the month. In the top slots for October were:
- American Funds Growth Fund – $1.6 billion
- American Funds Balanced – $887 million
- Vanguard Total Stock Index – $806 million.
- American Inc Fund – $779 million
Only Dodge & Cox’s Stock Fund managed to break up the American block party, taking in $1 billion and holding down second place on the list.