The Markets

Domestic Equity Reverses Course in October

Stock and bond funds experienced net inflows of $29.8 billion in October, led by International/Global funds with net inflows of $14.4 billion and Domestic Equity funds with an $8.4 billion net intake, according to data from the Financial Research Corporation (FRC).
Reported by Rebecca Moore

This was a turnaround for Domestic Equity funds which experienced net outflows of $285 million in September. Corporate Fixed Income funds posted net inflows of almost $8 billion, while Government funds posted a net outflow of $2 billion, FRC data showed.

By Morningstar category, October was a repeat of September with Large Value funds taking in $3.8 billion in assets, Foreign Large Blend taking in $3.2 billion and Intermediate-Term Bond funds experiencing net inflows of $2.9 billion.

State Street Global Advisors pushed ahead as the best selling fund group for the month of October with an intake of $7.5 billion. American Funds followed with $7.1 billion in net inflows. Barclays Global Investors ($7 billion), Franklin Templeton Investments ($6.3 billion), and Vanguard Group ($4.7 billion) rounded out the top five.

There was a mixed bag of best selling funds in October, with offerings from five different fund groups in the top five. State Street’s SPDR Trust took in $5.6 billion for a strong lead. Franklin Templeton’s Templeton Growth fund came in second with a $2.7 billion intake, followed by the Eaton Vance Inst S-T Trs fund with a $1.5 billion intake.

Complete FRC data can be found at www.frcnet.com.