U.S. leveraged loan funds recorded a net inflow of $63 million in the week ended May 25, according to Lipper. This cuts roughly in half the outflow of $139 million last week and is the third one-week inflow over the past four weeks, for an infusion of $311 million over that span.
Take note, however, that today’s reading was all ETFs, at positive $67 million on top of outflows of $4 million from mutual funds. Last week was a bit deeper, with mutual fund outflows of $147 million patched by $8 million of ETF inflows.
The trailing-four-week average is fairly steady, at positive $78 million, from positive $43 million last week and positive $55 million two weeks ago.
Year-to-date outflows from leveraged loan funds are now $5 billion, with an inverse of negative $5.3 billion mutual fund against positive $255 million ETF. A year ago at this juncture, it was similarly mostly mutual fund outflows, at $3.1 billion, versus a small inflow of $83 million to ETFs, for a net negative reading of approximately $3 billion.
The change due to market conditions this past week was minimal, at positive $181 million, or about positive 0.3%, against total assets, which were $61.4 billion at the end of the observation period. ETFs represented about 10% of the total, at $6 billion. — Matt Fuller
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