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Junk mutual funds, ETFs see $521 million outflow for week ended April 24
By Abigail W. Adams
Portland, Me., April 4 – High-yield mutual funds and exchange-traded funds – considered a reliable barometer of overall liquidity trends in the junk market – saw outflows of $521 million for the week ended Wednesday, according to fund-flow statistics generated by AMG Data Services Inc.
The outflow marked the first in seven weeks, breaking a streak of inflows.
Funds saw inflows of $1.1 billion for the week ended April 17, $655 million for the week ended April 10, $2 billion for the week ended April 3, $590 million for the week ended March 27, $1.8 billion for the week ended March 20 and $1.04 billion for the week ended March 13.
The last outflow was for the week ended March 6 when $1.91 billion left the space.
The March 6 outflow also broke a streak of six consecutive inflows, which included the record-setting inflow of $3.86 billion for the week ended Feb. 6.
The inflow for the week ended Feb. 6 was the largest the space had seen since December 2016.
While funds saw record outflows in 2018, fund flows in 2019 have been net positive with a cumulative inflow of $14.47 billion in the 16 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 eight inflows and two outflows.
There have been 13 inflows and three outflows in the 16 weeks of 2019, according to the Prospect News analysis.
IG corporates see inflows
Among other asset classes, investment-grade corporate funds saw a massive inflow of $5.86 billion for the week ended Wednesday.
High-grade funds have seen a steady streak of inflows.
There was an inflow of $2.31 billion for the week ended April 17, $2.9 billion for the week ended April 3, $2.75 billion for the week ended March 27, $5.14 billion for the week ended March 20, $3.3 billion for the week ended March 13 and $1.99 billion for the week ended March 6.
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