Mutual Fund Volatility Remains High, ReFlow Index Shows

ReFlow Management Co., LLC recently introduced the ReFlow Fund Flow Volatility Index (FLIX) to help mutual fund managers track asset flows and fund performance. The index tracks monthly gross flows as a percentage of assets under management, according to the company’s website. The FLIX Index tracks open-end, long-term mutual funds, but does not track money market funds or ETFs.

After a 616 basis point spike in May, the FLIX Index fell 13.5% to 573 in June. Volatility remains high, the Index found, but performances among asset classes are mixed. Equity funds experienced low redemptions and sales in June, while bond funds showed strong sales and high redemptions, “reflecting growing ambivalence among investors toward fixed-income products,” according to the Index.

Total gross flows for long-term funds fell to $446 billion.