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U.S. mutual fund assets set to pass $15T

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The U.S. mutual fund industry is set to surpass $15 trillion in assets in February, new research shows.

Strategic Insight, New York, discloses this finding in a summary of results from a survey of open- and closed-end funds, including exchange-traded funds.

Net new flows of mutual funds, the report shows, totaled $90 billion in January, a significant reversal from December, which experienced outflows of $18 billion. Equities accounted for the largest shares of net flows, totaling $48 billion (versus a negative $30 billion in December), including $26 billion of flows into domestic equities and $22 billion into international equities.

Flows into taxable bonds reached $35 billion in January, up from $14 billion in December. And tax-free bonds enjoyed $7 billion in inflows, reversing $3 billion in outflows in December.

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Mutual fund assets under management, the report notes, now total $9.4 trillion, domestic equities nabbing largest share at $4.5 trillion. International equities ($1.8 trillion), taxable bonds ($2.5 trillion) and tax-free bonds ($594 billion), account for progressively smaller shares of AUM.

Turning to exchange-traded funds, the report shows that ETFs enjoyed net new flows of $30 billion in January, down from $39 billion recorded in December. Domestic and international equities accounted for $14 billion and $15 billion, respectively, of the January total. This compares to $26 billion and $14 billion, respectively, of net flows into these asset classes in December.

ETF taxable bonds and tax-free bonds experienced net new flows of $400 million and $300 million, respectively in January. This compares to an outflow of $500 million and an inflow of $100 million, respectively, for these asset classes in December.

ETFs under management, the survey shows, now total $1.4 trillion, domestic equities again accounting for the largest share at $826 billion. ETF assets held in international equities, taxable bonds and tax-free bonds totaled $346 billion, $238 billion and $12 billion, respectively, in January.