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Investing September 29, 2008
Mutual Funds See Modest Inflow in August
September 29, 2008 (PLANSPONSOR.com) - Stock and
bond funds experienced net inflows of $401 million in August,
according to Financial Research Corporation (FRC).
Reported by Rebecca Moore
Domestic Equity funds experienced the largest net inflows for the month of $12.9 billion, while Government funds came in a distant second with $2.9 billion in net inflows. International/Global Equity funds experienced a net outflow of $21.5 billion, FRC data shows.
By Morningstar category, Large Blend funds brought in a net $7.5 billion in August. Intermediate-Bond funds posted a net intake of $2.7 billion, followed by Specialty-Financial funds with a net intake of $2.1 billion.
State Street Global Advisors’ SPDR S&P 500 ETF led the sales chart, bringing in a net $3.6 billion for the month. PIMCO’s Total Return fund and Capital International’s Emerging Markets Growth fund took the second and third spots with net intakes of $1.7 billion and $1.6 billion, respectively.
FRC’s August 2008 Estimated Mutual Fund Net Flows can be found at www.frcnet.com .