Corporate Fixed Income funds followed with a $3.5 billion net inflow, FRC data showed. Meanwhile, Domestic Equity funds experienced an outflow of $285 million and Government funds posted a $2.4 billion outflow.
By Morningstar category, Large Value funds were the leaders with inflows of $3.8 billion for the month. Foreign Large Blend funds came in second, posting an inflow of $3.2 billion, followed by Intermediate-Term Bond fund with a $2.9 billion inflow.
American Funds was by far the best-selling fund group in September, with a net intake of nearly $5.6 billion – more than double second best seller, Vanguard Group, with its nearly $2.4 billion intake. Dodge & Cox rounded out the top three with a net inflow of $1.7 billion.
American Funds held the top three spots in the list of best-selling funds. Its Capital Income Builder fund pulled in nearly $1.4 billion in assets for the month, while its Capital World Growth & Income fund pulled in nearly $1.2 billion. American Funds Growth Fund of America held the number three position with an inflow of $1.1 billion.