Equity funds led the way in June with $15.9 billion in net inflows, up from $5.7 billion in net inflows the month prior, FRC data showed. Tax-free bond funds enjoyed a second straight month of inflows with a $2.2-billion boost in June, albeit a smaller increase than the $4.9-billion hike seen in May.
Meanwhile, Corporate funds saw a $1.6-billion net June inflow, down from $7.9 billion in May. Government bond funds had a $748-million June inflow, down from the $1.1-billion in May, while International/Global funds had a net outflow of $492 million, a reversal from the $15.2-billion inflow the month prior.
Looking at Morningstar categories, Large Blend funds were ahead by $8.7 billion, with Specialty-Financial following with $3.5 billion in net inflows. The rest of the top five were Intermediate-Term Bond funds at $2.7 billion, World Allocation at $2.6 billion, and Specialty-Natural Resources seeing a $1.9-billion June inflow.
SSGA’s SPDR S&P Financial ETF attracted $2.7 billion of net inflows to lead the fund sales charts. That was followed by the Vanguard Group’s Total Stock index fund with $2.3 billion and the SPDR Trust 1 with $2.1 billion.
More information is at www.frcnet.com .