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US High Yield Bond Funds See $1.2B Investor Cash Withdrawal

Market pros see leveraged loan default rate holding at low levels

S&P: BBB downgrade risks in Europe look manageable

As specter of rate cuts grows, investors retreat from leveraged loan asset class

Retail investors flock to US high yield bond funds with $1.8B inflow


US High Yield Bond Funds See $1.2B Investor Cash Withdrawal

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U.S. high-yield funds recorded an outflow of roughly $1.2 billion for the week ended March 21, according to weekly reporters to Lipper only. The exit follows last week’s inflow of $11 million, which snapped a record high-yield outflow streak of $16.6 billion over the previous eight weeks.

The total outflow so far this year is now $14.9 billion.

ETFs drove the bulk of this week’s exit, with an outflow of $890 million, while roughly $284 million exited mutual funds.

The four-week trailing average widened to negative $598 million, from negative $388 million last week.

The change due to market conditions this past week was a decrease of $577 million. Total assets at the end of the observation period were about $200.6 billion. ETFs account for about 21.8% of the total, at $43.7 billion. — James Passeri

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