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Portfolio > ETFs

Cerulli Report: Mutual Funds and ETFs Rebound in June

By Warren S. Hersch

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Mutual fund and exchange-traded fund assets rebounded in June, growing by 2.6% and 4%, respectively, according to a new report.

Cerulli Associates, Boston, published this finding in its July 2012 edition of “The Cerulli Edge: U.S. Monthly Product Trends.” The publication is one of a suite of periodicals from the company that explore issues and trends in asset management and distribution.

The report reveals that mutual fund assets totaled $8.6 trillion in June, up 2.6% from the $8.4 trillion recorded in May. ETF assets ended in June at $1.161 trillion, up 4% from the $1.116 trillion posted in May.

The survey reveals positive flows of both mutual funds and ETFs throughout the first of 2012. ETF flows reached $19.9 billion in June, up from $3 billion and $2.8 billion for, respectively, May and April.

Mutual fund flows in June totaled $11.4 billion. Though positive, the result was down from the flows posted in May ($14.4 billion), April ($18.8 billion), March ($31.6 billion) and February ($44 billion).

Fixed income mutual fund flows were the most significant in 2012. In June, the report states, fixed income flows totaled $14.7 billion. This compares with $12.8 billion posted in May, $19.6 billion in April and $30 billion in March.

Alternatives and commodities recorded significantly reduced flows in 2012. In June, May, April and March the totals were, respectively, $635 million, $1.3 billion, $489 million and $2.9 billion.

Equity flows for the first half of the year, the report reveals, were entirely in the negative, ranging from a negative $1.5 trillion in May to a negative $6.1 billion in March. In June, flows were a negative $3.7 billion.

U.S. stocks garnered the largest share (38.8%) of assets by asset class in June, the report states. The next highest shares by asset class were taxable bonds (26.6%), international stocks (14.5%) and balanced equities (9.6%).

Other asset classes—municipal bonds (6.4%), alternatives (3.2%) and commodities (0.9%)—garnered still smaller shares, the research finds.

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