Net flows negative - US Monthly Fund Highlights - November 2019

Actively-managed long-term funds saw outflows in November at US$1.5 billion. Although net flows in November were negative, active funds had experienced substantially larger outflows over the preceding three months, such as the US$8.2 billion withdrawn during October and outflows of US$12.8 billion during September.

Passive mutual funds and ETFs experienced strong demand from across the marketplace, pulling in substantial net deposits into US Equity, Taxable Bond, and International Equity funds. Net flows stood at US$51.1 billion in November compared to US$39.4 billion in the prior month.

Following a series of rough months, International Equity funds returned to positive flows in the year-to-date period at US$4.8 billion. The asset class, however, remained strongly divided between passive inflows of US$51.7 billion and active outflows of US$46.9 billion over the YTD period.

Money Market funds saw strong levels of demand again in November at US$44.2 billion, even as this represented a lower total than seen in recent months like September (US$69.2 billion) and August (US$82.8 billion). Money Market funds continued to see greater year-to-date inflows than any long-term asset class at US$460.1 billion.