U.S. high-yield funds recorded an outflow of $1.7 billion for the week ended May 10, according to weekly reporters to Lipper only, marking the largest outflow since the week ended March 15, when the outflow from the asset class totaled $5.7 billion.
The year-to-date total outflow is now $6.1 billion, reflecting a $4.3 billion outflow from mutual funds added to a $1.8 billion exit from ETFs.
The four-week trailing average dropped to negative $545 million from negative $201 million last week.
The change due to market conditions this past week was a decline of $111 million. Total assets at the end of the observation period were $204 billion. ETFs account for about 22% of the total, at $45.5 billion. — James Passeri
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