Money may be pouring back into long-term (i.e. non-money-market) mutual funds these days, but it's pouring out of money market funds at an even faster rate. According to the May edition of the Morningstar Direct Fund Flows Update
, long-term funds netted $165.102 billion in inflows year-to-date, as of April 30, even as money market funds netted $442.969 billion in outflows. That means that $277.867 billion net flowed out of mutual funds in the first four months of 2010.
The report also offers glimpses at flows of target date funds, REIT funds, bank-loan funds and exchange-traded funds. Fund firms singled out for special attention include Brandywine
, Hotchkis and Wiley
, Matthews Asia Funds
(as well as usual suspects like American Funds
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