Cash flow was positive again this week to high-yield funds, however the reading would be negative if not for the large inflow to exchange-traded funds. Indeed, there was a net inflow of $34 million to the asset class in the week ended March 27, but it is based an outflow of $136 million from mutual funds against an outsized inflow of $171 million to ETFs, according to Lipper, a Thomson Reuters company.
Last week’s inflow was $201 million, with roughly half to each segment, and that inflow was a reversal from an outflow of $418 million the week prior. Prior, there was an inflow of $820 million, so the four week trailing average is positive $159 million.
As for the 13 weeks so far in 2013, Lipper data shows inflows for eight of the weeks, for a net year-to-date inflow of about $1 billion. That full-year reading would be larger if not for the ETF outflows of roughly $120 million this year.
Net assets of the weekly reporter sample were $166.57 billion at the end of the observation period, with ETFs representing about 19% of the total, or $32.25 billion. Total assets declined $84 million over the week, while ETF assets expanded $194 million. – Matt Fuller