Signs of Recovery After March Outflows
Reports are marking a relatively healthy April recovery for the mutual fund industry. After significant outflows, mutual fund assets increased more than 8 percent to $14.5 trillion after retreating more than 13 percent in March, according to Cerulli Associates research. However, asset managers continued to experience outflows. Top firms like Vanguard and Invesco lost more than $4 billion in assets in April, according to Institutional Investor. That report notes the fund industry saw net redemptions of over $29 billion in April with actively managed funds accounting for $25 billion of those outflows. ETF providers such as State Street and BlackRock’s iShares bucked the trend and continued to attract assets, however.