Sometimes, the fund industry can be like whitewater rapids. Whoosh!
The July flows picture for the industry, compiled by Morningstar
, was especially foamy.
July, according to the Morningstar
data, was the third-consecutive month during which investors pulled money out of U.S. equity funds, with each month representing an increase in outflows: May, $6.9 billion; June, $8.3 billion and July $11.4 billion.
Overall, flows into a long-term mutual fund categories was postive, at $14.4 billion.
However, the low cost fund giant Vanguard
successfully avoided the chop that affected most other equity firms. Morningstar highlights three Vanguard products that saw inflows: the Vanguard Total Stock Market Index
with $2.6 billion; the Vanguard Institutional Index
with $2.2 billion and the Vanguard Total International Stock Index
with $1.8 billion.
Overall, Vanguard pulled in $12.26 billion for the month of July, and $77.05 billion year-to-date.
foundered, experiencing $6.24 billion in outflows in July, and $9.74 billion year-to-date.
The top five firms in terms of flows and outflows follow:
Top 5 in Flows
: $12.26 billion in July; $77.05 billion year-to-date
2. JP Morgan
: $2.75 billion in July; $17.5 billion year-to-date
: $2.3 billion in July; $16.77 billion year-to-date
4. Goldman Sachs
: $1.13 billion in July; $12.4 billion year-to-date
5. Dodge & Cox
: $1.05 billion in July; $8.76 billion year-to-date
Top 5 in Outflows
: $6.24 billion in outflows in July; $9.74 billion in outflows year-to-date
: $1.11 billion in outflows in July; $2.56 billion in outflows year-to-date
3. Eaton Vance
: $971 million in outflows in July; $4.255 billion in outflows year-to-date
4. Ivy Funds
: $957 million in outflows in July; $3.13 billion of inflows year-to-date
: $870 million in outflows for July; $33.17 billion in outflows year-to-date.
Stay ahead of the news ... Sign up for our email alerts now