Mutual funds see net redemptions of US$610bn - Global FlowWatch Series - March 2020

Global long-term mutual funds experienced aggregate net redemptions of US$610 billion during the month of March. Local Asia was the only region to post positive net flows, with US$62 billion in net deposits. Meanwhile, the U.S. saw the largest aggregate redemption of any region, with US$360 billion in net outflows, followed by Crossborder with US$227 billion. Local Europe and Latin America suffered a combined US$84 billion in net redemptions.

Actively managed funds and passively managed funds experienced outflows of US$589 billion and US$21 billion, respectively. Investors in Local Asia were the only benefactors of active funds, gathering an aggregate US$24 billion in net new money. Overall, bond funds suffered the most out of any asset class, with US$470 billion in net redemptions.

SSgA was the best-performing manager during the month, with US$14 billion in net new cash. Its best-selling fund, the SPDR Bloomberg Brcly 1-3tBill ETF, attracted approximately US$9 billion in new investor money. The fund provides investment results that correspond generally to the price and yield performance of the Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index.