September was a painful month for U.S. equity fund flows and, not surprisingly, for Capital Group
. According to a Morningstar
Direct Fund Flows report, Cap Group's American Funds
suffered $1.8 billion in net outflows last month, as U.S. stock mutual funds suffered $3.1 billion in net outflows.
At the same time, Pimco
and Bill Gross
continued to attract assets. As taxable bond funds and municipal bond funds brought in $35.6 billion and $10.7 billion net, respectively, in September, Gross' Pimco Total Return
brought in $5.3 billion.
Morningstar's report also highlights some flow data for Vanguard
, along with year-to-date data on the top 10 mutual fund families.
Neil Anderson, Managing Editor
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