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Rating:American Funds Sees Seventh Straight Month of Outflows Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 12, 2010

American Funds Sees Seventh Straight Month of Outflows

Reported by InvestmentWires Staff, 

January brought the seventh straight month of outflows for American Funds, but the pace has slowed down. The Los Angeles-based fund giant saw outflows of $962 million, according to Morningstar. The January figure is lower than average outflows of $1.8 billion that American Funds experienced in the final six months of 2009.

An American Funds spokesperson declined to comment.

Looking at the industry as a whole, mutual funds had inflows of $44.5 billion in January, according to Morningstar. Domestic equity funds attracted $2.7 billion last month, snapping a four-month streak of outflows. International stock funds, for their part, pulled in more than $8.1 billion. This is the largest monthly inflow for the asset class since December 2007. On the bond side, $28 billion flowed to fixed income funds.

Industry assets totaled $746 billion last month, down 4.8 percent from December.

Meanwhile, ETFs saw $16.7 billion in net outflows in January. Total ETF net assets jumped 49.2 percent year-over-year. 

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