U.S. Core Quarterly & Monthly Reports - November 2021
/Active long-term funds experienced their first month of net withdrawals during 2021. Net redemptions for the month totalled US$8.2 billion following minor positive inflows of US$4.8 billion in October. Tax-free bond funds led on an asset class level for the month with inflows of US$5.1 billion.
Passive fund flows were less drastically affected by market turmoil, gathering a still-strong US$69.7 billion in November after US$78.8 billion during the prior month. ETFs remained the leading inflow-gathering vehicle in November at US$57.6 billion, having brought in US$69.5 billion last month.
Long-term fund flows recorded their lowest monthly total for the year at US$61.5 billion, but net deposits across 2021 overall have continued to surpass record territory. YTD inflows totalled US$1.1 trillion, higher than the annual totals of any other year on record.
With equity markets experiencing their most drastic decline of the year in November, investors piled into short-term funds. Money market funds gathered net inflows of US$80.6 billion in November, up substantially from US$11.4 billion in October and the highest monthly total since March.
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