U.S. high yield funds saw a net $128 million withdrawal the week ended June 21, ending three weeks of inflows into the asset class totaling $1.3 billion, according to Lipper weekly reporters.
ETFs accounted for $82 million of this week’s withdrawal while high yield funds lost $46 million. Despite the dip, the four-week average rises to a $294 million net inflow, as a $567 million withdrawal the week ended May 24 rolls off this metric.
Year to date, U.S high-yield funds have seen a net $4.8 billion withdrawal, with ETFs seeing a small, $124 million net gain.
The change due to market conditions was a hefty $1.3 billion decline this week. Total assets at the end of the observation period were $207.9 billion, $46.7 billion via ETFs. — Staff reports
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