Retail cash flows to high-yield funds turned negative this week, with a net $141 million redemption for the week ended Dec. 5, according to Lipper, a division of Thomson Reuters. Exchange-traded funds saw the lion’s share of outflows, at 83% of the total, or $117 million.
The negative reading follows three straight positive readings totaling $1.4 billion. The four-week-trailing inflow average, however, improves to $323 million, from $139 million per week last week.
Inflows total $2.6 billion for the year to date, versus a modestly negative reading seven weeks ago. ETF inflows comprise the majority of the year-to-date total, at $2 billion, with the smaller inflow to mutual funds accounting for the 24% balance.
Ten weeks ago, during the depths of cash withdrawals over the summer, the year-to-date reading was for outflows of $7.6 billion.
Inflows stood at $21.3 billion at this point in 2012 with 38% tied to ETFs.
Net assets of the weekly reporter sample totaled $175 billion at the end of the observation period, with ETFs representing roughly 20% of the total, or $35.7 billion. Net assets are up $13 billion in the year to date, a gain of 8% for the year.
The change due to market conditions over the past week was positive $275 million. The change due to market conditions in the year to date is positive $12.1 billion, a gain of 7%, according to Lipper. – Matt Fuller