U.S.Asset Managers-Weekly Fund Flows:Aug 13-Aug 19.Money Market Inflows Continue,Equity and Fixed Income Outflows

AMG/Lipper released mutual fund flows data for the week ending August19, 2015. It was a week of outflows for Equity funds, outflows for FixedIncome funds, and inflows for Money Market funds. When excludingETFs, Equity funds saw outflows of $0.5bn, Taxable Bond funds sawoutflows of $0.3bn, and Money Market funds saw inflows of $5.4bn.

    Equity fund flows (ex-ETFs) decreased from prior week. Equityfunds (ex-ETFs) had outflows of $0.5bn this week, deteriorating frominflows of $0.3bn the week prior. Domestic Equity funds (ex-ETFs) sawnet redemptions of $2.1bn, deteriorating from net redemptions of $1.0bnthe week prior. Int’l/Global Equity funds saw inflows of $1.5bn, anincrease from sales of $1.3bn the week prior. All Equity Funds (incl.

    ETFs) saw outflows of $0.3bn, deteriorating from sales of $0.9bn theweek prior.

    Taxable Bond funds (ex-ETFs) had outflows of $0.3bn this week,improving from outflows of $0.8bn last week. Municipal bond funds sawinflows of $0.1bn this week, up modestly from flat flows the week prior.

    Sectors overall had outflows this week. Financials had outflows of$0.4bn. Tech had outflows of $0.3bn and Real Estate had outflows of$0.1bn. Utilities, Energy and Healthcare/Biotech had inflows of $0.3bn,$0.1bn and $0.1bn, respectively.

    Asset manager fund returns were down this week, coming inat -0.46% and were lower than the equity market’s -0.31% return, asmeasured by the S&P 500. 3Q15TD returns were -0.89% for the fundcompanies we follow, with QTD market returns at 0.80%. Cohen &Steers is the leading performer QTD at 4.55% returns, while Lazard isthe worst performer QTD at -8.95% returns.