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Loan mutual funds see another record week ($1.85B) of investor cash inflows

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Loan mutual funds see another record week ($1.85B) of investor cash inflows

Retail-cash inflows into bank loan mutual funds and ETFs totaled $1.85 billion for the week ended July 24, according to Lipper FMI, a division of Thomson Reuters. That marks a new record for the weekly reporter sample, topping a previous high mark of $1.71 billion from last week, which itself bested a total of $1.55 billion for the week ended March 20.

With this surge, the trailing four-week average rises to a record level of $1.33 billion, from $1.14 billion previously, and the inflow streak extends to 58 weeks, totaling $39.5 billion over that span.

Inflows this week were comprised of $1.78 billion into mutual funds and about $69 million into ETFs, with the latter about 4% of the total, the lowest contribution of the year aside from an outflow five weeks ago. ETF inflows last week were $141.5 million, or 8% of the total.

The year-to-date reading is $31.25 billion, of which 11% is tied to ETF flow activity. In the comparable year-ago period, inflows to the asset class totaled $2.2 billion, 26% 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 $78.4 billion at the end of the latest observation period, and the change due to market conditions was positive $157.7 million, or nearly 0.2%. Total assets are up $36.4 billion in the year to date, an 84% expansion. – Jon Hemingway