Moderate Allocation, Intermediate-Term Bond, Mid-Cap Value were the top selling mutual fund categories in July. Moderate Allocation funds obtained a $3.6 billion inflow in July, while Intermediate-Term Bond, and Mid-Cap Value funds followed with $2.3 billion and $2 billion respectively. Small growth, Multi-sector bond, and World Stock were the least favorite categories for investors, FRC reported.
American Funds was still the top seller for July, taking in $5.7 billion for the month, again well ahead of Barclays Global Investors Funds’ second place of $3.6 billion. The Vanguard Group, Pimco Funds, and Fidelity Distributors rounded out the top five with inflows of $2.4 billion each for Vanguard and Pimco, and $1.6 billion for Fidelity.
American Funds Growth Fund of America was the top selling portfolio in July, with net inflows of one and a half billion dollars. The PIMCO Total Return Fund came in second with monthly net inflows of $1.3 billion.
Lord Abett once again fared the worst of the funds listed with $267 million in net inflows for the month.