Analysis released Friday by Jason Weyeneth, CFA, and Alex Levine of Sterne Agee Asset found the following trends for companies that reported their latest outflows and inflows:
- Ameriprise Financial (AMP) had long-term outflows of $1.1 billion during the week, driven by taxable bond fund outflows of $546 million. Unfortunately, many of AMP’s asset classes saw investors exit: $287 million from domestic equity, $102 million from international equity, $147 million from municipal bonds. Overall, the overwhelming driver of outflows for Ameriprise was the its diversified bond fund, which had $994 million or so of outflows.
- BlackRock’s (BLK) actively managed products had outflows of $205 million last week, while iShares suffered outflows of a whopping $3.95 billion. The iShares outflows were driven by the MSCI Emerging Markets fund (EEM) and TIPS Bond Fund totaling $981 million and $532 million, respectively.
- Eaton Vance “suffered long-term outflows of $177 million, driven by $202 million of municipal bond outflows,” the report said. Also, despite the dramatic move in interest rates, the group’s floating-rate fund inflows slowed to $188 million, while its large-cap value fund lost $76 million of assets.
- Federated Investors’ (FII) long-term product “endured $493 million of outflows last week, driven primarily by bond funds,” though its money-market funds lost $2 billion of assets.
- Invesco’s (IVZ) actively managed products suffered outflows of $931 million from long-term assets. Its PowerShares suffered $494 million of outflows, excluding the popular QQQ (QQQ).
- Legg Mason’s long-term net outflows swelled to $800 million with significant weakness in taxable bond funds ($426 million) and municipal bond funds ($259 million), Sterne Agee reports. Domestic equity funds, however, generated inflows for the week of $63 million.
- Principal Financial Group (PFG) experienced long-term product outflows of $135 million. This movement was driven by taxable-bond outflows of $152 million, though the firm’s equity platform generated $72 million of inflows for the week; the group’s global real estate fund had inflows of $47 million.
- WisdomTree Investments (WETF) net outflows were $183 million for the week ending June 19. WETF will disclose more recent results on Monday.
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