Active long-term funds faced their greatest monthly net withdrawals ever - US Monthly Fund Highlights - February 2020

Active long-term funds faced their greatest monthly net withdrawals ever at US$304 billion, representing 2.7% of February assets. December 2018 had previously served as the highest total outflow month for active funds, with net redemptions of US$174 billion.

The market downturn also led passively-managed funds to experience their highest monthly net redemptions on record at US$25.6 billion, though at less severe levels than active funds. In March, mutual funds served as the highest outflow vehicle at $29.5 billion against inflows of US$3.8 billion into ETFs.

Following record-setting pullbacks from Taxable Bond funds, International Equity acted as the highest inflow asset class for the first quarter of 2020. International Equity net deposits totalled US$20.0 billion in the YTD period, overwhelmingly led by passive funds at US$32.7 billion.

Alongside historic outflows from long-term funds, Money Market funds faced their highest inflows of any month on record at US$663 billion. These inflows were magnitudes higher than the second highest inflow period, October 2008, when Money Market net commitments totalled US$188 billion.