Morningstar Reports U.S. Mutual Fund Asset Flows for February 2014

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Printer-friendly versionPrinter-friendly versionPDF versionPDF versionCHICAGO, March 12, 2014—Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund asset flows for February 2014. Investor confidence continued to drive inflows during the month. Long-term mutual funds attracted $45.5 billion, topping January inflows of $40.9 billion. Improvements in taxable- and municipal-bond fund flows boosted overall flows; both category groups saw their strongest monthly intakes in nearly one year. Morningstar estimates net flow by computing the change in assets not explained by the performance of the fund. Click here for a full explanation of Morningstar’s methodology.Additional highlights from Morningstar’s report on mutual fund flows:• Noncore bond funds continued to garner strong inflows, while redemptions from core bond funds moderated to their lowest level in a year. Nontraditional bond led all categories in terms of inflows, and high-yield bond funds saw their highest inflow since October. • Despite the stabilization of bond fund outflows so far in 2014, PIMCO continued to see outflows, even among its nontraditional bond and high-yield bond offerings. PIMCO was the only provider among the top 10 firms by assets under management that had outflows in February. • While emerging-markets exchange-traded funds (ETFs) have been seeing outflows for some time, emerging-markets equity mutual funds experienced their first monthly outflow in three years. Emerging-markets bond funds continued to suffer outflows, as they have since June 2013. • Relative to assets, the $3.5 billion inflow to sector funds represents a 12% organic growth rate, much stronger than the 2% growth rate for U.S.-equity funds. Investors have become increasingly interested in sector investing, particularly through ETFs. Over the past year, sector ETFs collected $41.5 billion, compared with $23.2 billion for sector mutual funds. To view the complete report, please visit http://www.global.morningstar.com/febflows14. For more information about Morningstar Asset Flows, please visit http://global.morningstar.com/assetflows. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. About Morningstar, Inc.Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 446,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 10 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and had approximately $159 billion in assets under advisement and management as of Dec. 31, 2013. The company has operations in 27 countries.# # #

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