Money-market, stock and bond funds had net outflows of $48.8 billion in June, according to data released by the Financial Research Corp., including ETFs, but excluding fund-of-funds.
Money-market funds experienced the biggest pain, with $48.3 billion in net outflows in June, which followed outflows of $5.8 billion in May. Year to date, money-market funds have experienced $136.7 billion in outflows vs. outflows of $489.4 billion for the first six months of 2010.
When combined with stock and bond funds, though, the mutual fund industry looks far healthier: It has experienced close to $35 billion in total net inflows in the first six months of 2011 vs. outflows of roughly $270 billion in the same period of 2010. Total assets stand at $12.1 trillion vs. $10.3 trillion in June 2010.
Stock, Bond Funds
Excluding money markets, long-term stock and bond funds had outflows of $487 million in June, after experiencing net inflows of $12.5 billion in May. Year to date, these fund groups have had net inflows of $171.4 billion vs. inflows of $219.3 in the same year-ago period.
On the plus side, international/global fixed-income funds experienced net inflows of $5.7 billion in the month, followed by government bonds with $4.5 billion and international/global equity funds with $2.5 billion. Tax-free funds drew $2.2 billion, while corporate-focused funds gained $665 million.
Equity funds had outflows of $16 billion, though some ETFs fared quite well: The SPDR S&P 500 attracted $4.4 billion to lead the fund sales chart, FRC says.
By Morningstar category, world bonds led the flows list in June with $3.4 billion. Intermediate-term bonds had close to $3.4 billion, while multi-sector bonds had nearly $3.1 billion in net flows. Diversified emerging-markets funds attracted nearly $3.1 billion, and emerging-markets bonds expanded by $2.6 billion.