U.S. leveraged loan funds recorded a net inflow of $69 million in the week ended July 20, according to the Lipper weekly reporters only. This is the second infusion of cash to the asset class after four weeks of outflows for a total inflow of $206 million over the two weeks.
Today’s reading was mixed, however, with inflows of $85 million to mutual funds against outflows of $16 million from ETFs.
Whatever that might suggest about fast money, market timing, and hedging strategies, this week’s inflow narrows the trailing four-week average to negative $84 million per week, from negative $118 million a week ago.
Year-to-date outflows from leveraged loan funds now total $5.4 billion, based on outflows of $6 billion from mutual funds against inflows of $670 million to ETFs, or inverse 12%, according to Lipper.
The change due to market conditions this past week was positive $205 million on total assets of $62.3 billion at the end of the observation period, for a gain of approximately 0.3% for the week. ETFs represent about 10% of the total, at $6.5 billion. — Matt Fuller
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