Aggregate mutual fund and exchange-traded fund values dipped in May, shedding assets for the second consecutive month.
Cerulli Associates, Boston, published this finding the June 2012 issue of its U.S. Monthly Product Trends Edition. The publication is one among a suite of periodicals from the company that explore issues and trends in asset management and distribution.
In May, mutual fund assets declined by close to 5%, as flows ($14.1 billion) totaled $7.2 billion less than in April. The Cerulli report notes that taxable bonds funds contributed to the decline in flows, with their lowest monthly inflow in eight months, at just less than $8 billion.
ETF assets depleted by 6% in May, and hit a 2012 low with $1.1 trillion in assets. However, Cerulli reports, flows remained positive ($3.2 billion), as taxable bond funds let flows into ETFs with the asset class’ second-highest monthly inflow ever ($7.1 billion).