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Outflows from US Leveraged Loan Funds, ETFs Ease from Recent Peaks

Retail outflows from U.S. loan funds eased to $327 million for the week ended Jan. 9, putting an end to a seven-week run of $1 billion-plus withdrawals, highlighted by a record $3.5 billion outflow two weeks ago, according to Lipper.

With the recent activity, the four-week trailing average moderates to a still-severe $2.37 billion outflow, from $2.9 billion last week.

Mutual funds were behind the outflow this week, with a $464 million withdrawal, while ETFs saw a $137 million net inflow, the first for that segment of the investor base since Dec. 5, according to Lipper weekly reporters.

Of note, the change due to market value was positive $2.2 billion this week, far and away the largest that figure has been. (For the record, U.S. leveraged loans have gained some 2.5% over the past week, according to the S&P/LSTA Loan Index.)

Year to date, U.S. loan funds and ETFs have seen $2.65 billion of outflows, with the current eight-week run of withdrawals totaling $16.1 billion.

Assets at U.S. loan funds now total $90.5 billion, of which $10.7 billion come via ETFs. — Tim Cross

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