US Monthly Fund Highlights - July 2020

Actively-managed long-term funds witnessed positive inflows of US$11.8 billion in July 2020, having seen net deposits of US$29.3 billion in June. While assets have rebounded, active funds are in outflows in the YTD period at US$228.9 billion. Mutual funds only narrowly outpaced demand for active ETFs in the quarter, with net deposits of US$6.2 billion for mutual funds and US$5.6 billion into active ETFs.

The US$36.1 billion of inflows captured by passive funds in July closely lined up with net deposits of US$33.5 billion experienced in June. ETFs continued as the primary vehicle for passive inflows, pulling in net flows of US$36.4 billion as index mutual funds saw minor outflows of US$354 million.

Money Market flows have turned sharply in the past two months, experiencing net redemptions of US$64.0 billion in July after outflows of US$130.7 billion in June. YTD flows remained just shy of US$1 trillion despite these substantial withdrawals.