Long-term mutual funds and exchange-traded products experienced net redemptions totaling $16.6 billion in September. Monthly net outflows from equity products totaled $6.9 billion, on $10.7 billion of net redemptions from U.S. Equity. Driven by outflows from diversified active large-cap funds, active U.S. equity mutual funds saw outflows of $14.7 billion in the month. International equity funds captured $3.8 billion in September, a drop from July’s $24.4, with index mutual funds netting $5.6 billion.
Taxable bond funds redeemed a net $9.4 billion in September on outflows from global and high yield strategies. Government short maturity funds netted $3.3 billion during the month. Despite quarterly outflows of $27 billion from bond funds, year-to-date bond mutual funds and exchange-traded funds (ETFs) have attracted $46.9 billion.
Net redemptions from money market funds totaled $11.5 billion in September.
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