Large Blend, Moderate Allocation, and Intermediate-Term Bond were the top-selling mutual fund categories in May. Large Blend funds obtained a $3.6 billion inflow in May chipping away at their year to date outflow which was $4.5 billion, according to a news release. Moderate Allocation funds and Intermediate-Term Bond funds followed with $3.2 billion and $2.8 billion respectively. Multisector Bond, Emerging Markets Bond, and Diversified Emerging Markets were the least favorite categories for investors, FRC reported.
State Street achieved its rebound with the help of its SPDRs portfolio, which FRC listed as the top selling fund in May, with a net inflow of $4.3 billion for the month.
American Funds, listed first in April, followed State Street in May taking in $5.5 billion. American Funds still remains on top for the year, though, with $38 billion. Barclays Global Investors Funds, Vanguard Group, and Pimco Funds rounded out the top five with inflows of $4.2 billion, $2.2 billion, and $1.9 billion, in that order.
The FRC reported the largest outflows in May by Putnam Investments ($1.4 billion) and AIM Distributors Inc. ($1.2 billion).