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Press release from PR Newswire

Morningstar Reports U.S. Mutual Fund Asset Flows for July 2013

Wednesday, August 14, 2013

Morningstar Reports U.S. Mutual Fund Asset Flows for July 2013

10:14 EDT Wednesday, August 14, 2013

CHICAGO, Aug. 14, 2013 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund asset flows for July 2013. Investors added $15.9 billion to long-term mutual funds in July, driven by inflows of $7.9 billion into international-equity funds. Outflows from taxable-bond funds ebbed to $1.3 billion after record outflows of $43.7 billion in June, with investors continuing to favor bank-loan and nontraditional bond funds at the expense of more traditional intermediate-term bond categories. Morningstar estimates net flow by computing the change in assets not explained by the performance of the fund. Click here for a full explanation of Morningstar's methodology.

Additional highlights from Morningstar's report on mutual fund flows:

  • Detroit's bankruptcy filing kept municipal-bond funds in heavy redemptions; the category group lost $10.3 billion in July to mark the fifth straight month of outflows.
  • Value offerings led the way among equity funds, which was likely a result of yield-starved fixed-income investors seeking dividend income. Large-value funds collected $3.3 billion, the category's strongest inflow since February 2007.
  • JPMorgan led all providers with inflows of $3.4 billion. Dimensional Fund Advisors, Oakmark, Principal Funds, and MFS have also gained market share over the last year.
  • Investors pulled $7.5 billion from PIMCO Total Return in July, its third month of outflows. The fund has seen outflows of $18.4 billion over the previous three months compared with inflows of $21.5 billion over the 16-month period from January 2012 through April 2013.

To view the complete report, please visit http://www.global.morningstar.com/julyflows13. For more information about Morningstar Asset Flows, please visit http://global.morningstar.com/assetflows. 

The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. References to and commentary on the above mentioned mutual funds should not be considered a solicitation to buy or sell that fund.

About Morningstar, Inc.Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 433,000 offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on nearly 10 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has approximately $166 billion in assets under advisement and management as of June 30, 2013. The company has operations in 27 countries.

©2013 Morningstar, Inc. All Rights Reserved.

MORN-R

Media Contact:Carling Spelhaug, 312-696-6150 or carling.spelhaug@morningstar.com

SOURCE Morningstar, Inc.

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