CHICAGO, Feb. 19, 2020 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) fund flows for January 2020. Overall, long-term funds gathered $82.8 billion in January, their best month since January 2018. Fixed-income funds continued to take in assets, building upon a record 2019. Notably, taxable-bond funds collected a record $63.6 billion for the month and accounted for nearly 77% of all long-term fund inflows in January. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund, and net flow for U.S. ETFs shares outstanding and reported net assets.
Morningstar's report about U.S. fund flows for January 2020 is available here. Highlights from the report include:
- In January, U.S. equity funds had their worst month since February 2018 with $22.4 billion of outflows, likely due to portfolio rebalancing after a strong 2019 for U.S. equities. Investors continued to abandon active U.S. equity funds, which saw $30.3 billion in outflows, while passive U.S. equity funds netted $7.9 billion in inflows.
- Municipal-bond funds posted record monthly inflows of $14.1 billion in January. The category continues to benefit from investors seeking tax-free income. The windfall for taxable- and muni-bond funds helped actively managed funds to their best month since January 2018.
- Among the top-10 largest U.S. fund families, Vanguard's $42.8 billion haul in January was its second-highest monthly tally ever. Vanguard holds more than a fourth of all long-term assets, up from 10% in 2000.
- Vanguard 500 Index, which holds a Morningstar Analyst Rating™ of Gold, had $7.1 billion of inflows—the most for any single fund for which Morningstar collected data in January—followed by Silver-rated Vanguard Total Bond Market Index's $5.4 billion.
To view the complete report, please click here.
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About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with about $217 billion in assets under advisement and management as of Sept. 30, 2019. The company has operations in 27 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.
Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar's Manager Research Group's current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Analyst Ratings are not guarantees nor should they be viewed as an assessment of a fund's or a fund's or separately managed account's underlying securities' creditworthiness. This press release is for informational purposes only; references to securities or a separately managed account investment strategy in this press release should not be considered an offer or solicitation to buy or sell the securities or to invest in accordance with that strategy.
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SOURCE Morningstar, Inc.