Retail cash inflows to bank loan mutual funds and exchange-traded funds totaled $1.3 billion for the week ended Sept. 18, according to Lipper, a division of Thomson Reuters. That tally is down from $1.6 billion last week, but it’s the 66th consecutive inflow to the asset class, for a stunning infusion of $50.8 billion over that span.
ETF activity accounted for 14% of the latest inflow, or $189 million, as compared to just 7% of last week’s $1.6 billion inflow. The four-week trailing average dipped to a positive $1.2 billion per week, from $1.3 billion per week last week, and from as high as $1.7 billion six weeks ago.
The year-to-date reading is an inflow of $42.5 billion, of which 11% is tied to ETFs. In the comparable year-ago period, inflows to the asset class totaled just $3.7 billion, 22% of which was tied to ETFs. The last net outflow from loan funds was recorded in June 2012.
Total assets of the weekly reporter sample were $90 billion at the end of the latest observation period, and the change due to market conditions was approximately a positive $133 million, or essentially nil. Total assets are up $48 billion in the year to date, an expansion of 114% from $42 billion at the close of 2012. – Matt Fuller