Morningstar Reports U.S. Mutual Fund Asset Flows for April 2014

May 14, 2014, 12:10 ET from Morningstar, Inc.

CHICAGO, May 14, 2014 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund asset flows for April 2014. Investors added $27.7 billion to long-term mutual funds in April, driven by continued strong flows to equity funds along with resurgent flows to bond funds. After notable outflows last year, core, intermediate-term bond funds saw their second consecutive month of inflows, bringing in $3.3 billion in April. Meanwhile, municipal-bond funds collected $1.3 billion for their fourth straight month of inflows. 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:

  • U.S.-equity funds saw inflows of $25.2 billion in the first four months of the year, their strongest start since 2004. The majority of inflows for the asset class benefited passive funds. Active U.S.-equity funds had outflows of $5.7 billion through April, although JPMorgan, MFS, and Putnam have successfully attracted robust flows to active offerings.
  • Large-blend and foreign large-blend led all Morningstar Categories in terms of April inflows; passive funds hold a large share of assets in both categories. Conversely, large-growth funds recorded outflows, even after excluding American Funds Growth Fund of America, which has experienced net redemptions for 51 straight months.
  • Bank-loan funds had outflows of $1.2 billion in April, the category's first month of net redemptions since June 2012. The multisector bond category returned to the ranks of top-flowing categories for the first time since late 2012, thanks to a $951 million inflow for PIMCO Income, which has a Morningstar Analyst Rating™ of Silver. The fund is a bright spot for PIMCO from a flows perspective; the firm has lost $79.9 billion to outflows over the past 12 months.

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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 about 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 456,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 12 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 had approximately $164 billion in assets under advisement and management as of March 31, 2014. The company has operations in 27 countries.

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