CHICAGO, Nov. 17, 2014 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for October 2014. On the heels of sizable outflows of $18.7 billion in September, active taxable-bond funds shed another $23.1 billion in October. However, when PIMCO Total Return's outflows are excluded, active taxable-bond funds collected inflows of $9.2 billion. Passive taxable-bond flows were also strong. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.
Additional highlights from Morningstar's report about U.S. asset flows in October:
- Active U.S. equity mutual funds and ETFs saw outflows for the eighth consecutive month, while passive U.S. equity funds had inflows for the ninth straight month. Over the last 12 months, overall long-term passive flows have been nearly five times as large as active flows.
- PIMCO's firm-level outflows of $49.4 billion were larger in October than in September, as investors continued to react to Bill Gross' departure. Janus, with Gross on board, experienced its first month of net inflows in October after 36 consecutive months of redemptions. But Gross' new fund, Janus Global Unconstrained Bond, accounted only for about one-third of Janus' October inflows.
- Four PIMCO funds were among the five active funds with the greatest redemptions in October. Among top asset-gathering active funds for the month, fixed-income offerings led the way. Metropolitan West Total Return Bond, which has a Morningstar Analyst Rating™ of Gold, took in $6.7 billion, followed by Gold-rated Dodge & Cox Income with $4.2 billion and unrated BlackRock Strategic Income with $2.3 billion. On the passive side, Vanguard Total Bond Market Index had another strong month with inflows of $5.5 billion.
To view the complete report, please visit http://www.global.morningstar.com/octflows14. To view a video recapping October's U.S. asset flow trends, please visit http://bit.ly/oct2014flows. 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 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 individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 479,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 13 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 investment advisory subsidiaries and had approximately $169 billion in assets under advisement and management as of Sept. 30, 2014. The company has operations in 27 countries.
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SOURCE Morningstar, Inc.