2014

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

CHICAGO, Nov. 13, 2013 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund asset flows for October 2013. U.S.-equity funds collected $10.5 billion, their highest monthly inflow since January. International-equity funds also had a solid month, leading all category groups with inflows of $12.2 billion. But continued outflows from taxable- and municipal-bond funds tempered overall inflows, which totaled $17.8 billion for the month. 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:

  • Active U.S.-equity funds had strong monthly inflows for only the third time in 2013, a year many heralded as the great rotation into active strategies after years of passive-fund flow dominance. While the trend has not materialized, outflows from active equity funds have amounted to $15.3 billion for the year to date compared with outflows of $131.5 billion in 2012.
  • Equity categories took the top three spots in terms of inflows by category, led by foreign large blend. October was the first month since March that bank loan, nontraditional bond, or world bond did not lead all categories in flows, and the first time in more than a year that the bank-loan category was not in the top five.
  • Inflation-protected bond funds saw their largest outflow on record, with $4.8 billion fleeing the category in October. The average fund in the category has lost 5.9 percent year to date.
  • Vanguard dominated inflows at the provider level in October, collecting new assets of $6.0 billion overall and led by inflows of $2.1 billion for Vanguard Total Stock Market Index Fund. Vanguard's market share of mutual fund assets stands at 17.5 percent, up from 15.6 percent three years ago. American Funds' market share has fallen to 10.0 percent from 12.0 percent over the same period, and PIMCO's has dropped to 5.1 percent after peaking at 6.1 percent in late 2012.

To view the complete report, please visit http://www.global.morningstar.com/octflows13. 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 individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 437,000 offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 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 $176 billion in assets under advisement and management as of Sept. 30, 2013. The company has operations in 27 countries.

©2013 Morningstar, Inc. All Rights Reserved.

MORN-R

Media Contact:
Carling Spelhaug, +1 312-696-6150 or carling.spelhaug@morningstar.com 

SOURCE Morningstar, Inc.



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