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Junk mutual funds, ETFs lose $264 million for week ended Jan. 23
By Abigail W. Adams
Portland, Me., Jan. 10 – High-yield mutual funds and exchange-traded funds – considered a reliable barometer of overall liquidity trends in the junk market – saw outflows of $264 million for the week ended Wednesday, according to fund-flow statistics generated by AMG Data Services Inc.
The outflow follows a record-setting inflow of $3.28 billion for the week ended Jan. 16 – the largest inflow since December 2016, according to a market source.
Funds saw an inflow of $1.05 billion for the week ended Jan. 9, which ended a streak of seven consecutive outflows.
Funds saw outflows of $628 million for the week ended Jan. 2, which was preceded by a substantial outflow of $3.53 billion for the week ended Dec. 26.
Junk funds saw $789 million leave the space for the week ended Dec. 19, $2.06 billion leave the space for the week ended Dec. 12, $829 million leave the space in the week ended Dec. 5, $1.2 billion leave the space in the week ended Nov. 28 and $2.19 billion leave the space for the week ended Nov. 21.
There was a record amount of outflows in 2018 with the cumulative outflow totaling $36.5 billion, according to a Prospect News analysis of the reports by the Arcata, Calif.-based unit of Thomson Reuters Corp.’s Lipper analytics division.
However, the fund flows in 2019 have been net positive with a cumulative inflow of $3.44 billion in the four weeks thus far.
For the past 10 weeks, funds have seen two inflows and eight outflows.
There have been two inflows and two outflows in the four weeks of 2019, according to the Prospect News analysis.
IG corporates see outflows
Among other asset classes, investment-grade corporate funds saw outflows of $158 million for the week ended Wednesday.
Those funds saw inflows of $913 million for the week ended Jan. 16.
High-grade funds saw outflows of $1.14 billion for the week ended Jan. 9, which followed a substantial outflow of $4.52 billion for the week ended Jan. 2.
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