What you need to know
- Actively managed US funds are on pace for their worst year ever, Morningstar says.
About $10.8 billion in assets left Fidelity funds in November, the largest outflow among the largest US fund families. morning star It was recently reported.
The move came in a month in which U.S. mutual and exchange-traded funds saw nearly $53 billion in outflows — the third straight month of net outflows — continuing a “disgusting year” that saw more than a quarter trillion dollars exit the funds. Morningstar said.
However, the EFF attracted 54.8 billion dollars in revenue in November and raised more than 543 billion dollars by November 2022, according to the report. (Bloomberg (It reported last week that investors are running from traditional mutual funds to ETFs, leaving a $1.5 trillion gap between the two types of funds.)
More than $95.6 billion of US funds were actively managed last month, with $42.6 billion going into institutional funds, Morningstar reported. Among ETFs, however, actively managed funds gained assets in November.
“Both active and passive funds have largely counted on their indexes to stay afloat. Fidelity agrees with that statement, but the products didn’t last, shedding $4.6 billion in November,” Morningstar said.
Fidelity’s active funds saw inflows of nearly $6.2 billion last month.
BlackRock’s ETF family, iShares, led the group in inflows last month with nearly $20.5 billion in outflows. Active fund inflows of more than $20.6 billion more than offset $151 million in actively managed outflows.