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Junk mutual funds, ETFs add $284 million for week ended Feb. 20
By Abigail W. Adams
Portland, Me., Feb. 14 – High-yield mutual funds and exchange-traded funds – considered a reliable barometer of overall liquidity trends in the junk market – saw inflows of $284 million for the week ended Wednesday, according to fund-flow statistics generated by AMG Data Services Inc.
The inflow marks the fourth consecutive week of inflows. Funds saw inflows of $728 million for the week ended Feb. 13, which was preceded by the largest inflow since 2016.
Funds saw a record-setting inflow of $3.86 billion for the week ended Feb. 6 and a modest inflow of $73 million for the week ended Jan. 30.
Funds saw an outflow of $264 million for the week ended Jan. 23.
The outflow was preceded by an inflow of $3.28 billion for the week ended Jan. 16, which, until the week ended Feb. 6, had been the largest inflow since December 2016, according to a market source.
Funds also saw a substantial 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.
While funds saw record outflows in 2018, fund flows in 2019 have been net positive with a cumulative inflow of $8.38 billion in the eight weeks thus far, according to a Prospect News analysis of the reports by the Arcata, Calif.-based unit of Thomson Reuters Corp.’s Lipper analytics division.
For the past 10 weeks, funds have seen six inflows and four outflows.
There have been six inflows and two outflows in the eight weeks of 2019, according to the Prospect News analysis.
IG corporates see inflows
Among other asset classes, investment-grade corporate funds saw inflows of $1.95 billion for the week ended Wednesday. High-grade funds had added $1.89 billion for the week ended Feb. 13.
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