Domestic equity funds led the way, with an inflow of $8 billion during the month, with International/Global funds following closely with a $5.6 billion intake, according to data aggregated by financial services consulting firm Financial Research Corporation (FRC).
By Morningstar category, the largest net inflows were recorded in moderate allocation funds ($3.4 billion), followed by large value ($2.5 billion), foreign large blend ($2 billion), mid-cap value ($1.5 billion) and world allocation ($1.4 billion). For the year, moderate allocation funds have picked up $36 billion, large cap value funds have gained $28.2 billion and foreign large cap blend funds have added $16.7 billion.
Per fund family, American funds had the largest inflow of the month ($6 billion), followed by Vanguard Group ($3.8 billion), Barclays Global Investor Funds ($2.8 billion), Fidelity Distributors ($1.2 billion) and T. Rowe Price Investment Services ($1 billion). Year-to-date, American funds have picked up $56 billion in net new assets, while Vanguard Group has tacked on $39.6 billion and Barclays has recorded inflows of $23.4 billion.
July’s performance was slightly down from that of June’s $ 16.2 billion inflow (See http://www.plansponsor.com/pi_type10/?RECORD_ID=26236).
– Kip McDaniel