Investing June 24, 2010
Mutual Fund Flows Retreat in May
June 24, 2010 (PLANSPONSOR.com) - Stock and bond funds experienced net outflows of $2.9 billion in May, according to data from the Financial Research Corporation (FRC).
Reported by PLANSPONSOR staff
The Corporate Bond objective led the net inflow category with $4.3 billion, followed by the Tax-Free Bond objective with $3.4 billion. The Equity objective saw a $9.3 billion outflow.
By Morningstar category, Equity Precious Metals drew in nearly $7 billion, while Short-Term Bond posted a net inflow of nearly $5 billion, and Intermediate Term bond saw a $4-billion net inflow.
SSgA’s SPDR Gold Shares attracted $5 billion to lead the fund sales charts. PIMCO Total Return was a distant second, taking in $3.6 billion, and SSgA’s SPDR S&P 500 ETF posted a net inflow of $2.2 billion.
The Mutual Fund Net Flows release includes ETFs and excludes money market funds in its universe of mutual funds.
FRC data can be found at http://www.frcnet.com.