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US Leveraged Loan Funds See $1.32B Outflow

U.S. loan funds reported an outflow of $1.32 billion for the week ended Nov. 28, according to Lipper weekly reporters only. This is the second consecutive week of outflows of more than $1 billion—marking the largest two-week outflow total in three years—and the third outflow in the past five weeks.

Outflows have now been logged in four of the last six weeks for a cumulative net outflow of $4.4 billion over that span. Despite this week’s result, the four-week trailing average narrowed to $721 million, from $768 million, as a large outflow rolled off.

Mutual funds were again the primary driver of the outflow at $992.2 million, while another $328.3 million was pulled from ETFs. This is the fifth straight week that investors have moved cash out of mutual funds, for a total of $3.2 billion during that period.

With this latest outflow, the year-to-date total inflow falls to $7.3 billion.

The change due to market conditions last week was a decrease of $395.8 million, moderating from a steeper decline last week, but still the third straight week in the red. Total assets were roughly $103.8 billion at the end of the observation period and ETFs represent about 11% of that, at roughly $11.7 billion. — Jon Hemingway

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