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Risk off (Finally): Investors Withdraw $1.5B from US Leveraged Loan Funds

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Risk off (Finally): Investors Withdraw $1.5B from US Leveraged Loan Funds

loan fund flows
U.S. loan funds reported an outflow of $1.5 billion for the week ended Oct. 31, according to Lipper weekly reporters only. This marks the largest weekly outflow from loan funds since the week ended Dec. 16, 2015, which posted an outflow of about $2 billion.

This follows last week’s slight outflow of $7 million, and narrows the year-to-date total inflow to roughly $10.2 billion.

Mutual funds drove the bulk of the outflow this week, with an exit of $956 million, marking the largest exit from mutual funds since the week ended Dec. 23, 2015, which posted a mutual-fund exit of $1.2 billion (and barring a nominal $1.3 billion mutual-fund outflow for the week ended Nov. 11, 2017, which came as the result of a reclassification at a single institutional investor).

Meanwhile, ETFs reported an outflow of $551.5 million this week, indicating the largest weekly ETF exit on record.

The four-week trailing average snapped a 40-week streak in the black, slipping to negative $247 million, from positive $207 million last week.

The change due to market conditions this past week was a decrease of $10 million, following last week’s decline of $186 million.

Total assets were roughly $106.8 billion at the end of the observation period. ETFs represent about 11.7% of total assets, at roughly $12.5 billion. — James Passeri

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