Equity, Bond & Money Market Fund Flows - Yearly Totals & 2010 YTD
Weekly 11/03/2010
- Equity Fund Inflows $1 Bil
- Taxable Bond Fund Inflows $2.1 Bil
- xETFs - Equity Fund Inflows $1.2 Bil
- Taxable Bond Fund Inflows $1.9 Bil
Fund Flow Totals for 2010 through 11/03/10
| Table 1 | AMG Fund Flows for Full Year - $B | ||
| Fund Flows for | Equity | Tax Bond | MM Fund |
| 2003 | 40.8 | 40.7 | NC |
| 2004 | 95.0 | 11.3 | (64.3) |
| 2005 | 71.9 | 9.3 | 89.0 |
| 2006 | 52.5 | 29.9 | 308.3 |
| 2007 | 111.3 | 68.8 | 569.5 |
| 2008 | 3.5 | (3.3) | 608.0 |
| 2009 | 6.0 | 172.0 | (280.2) |
| 2010 | 1.8 | 141.4 | (411.3) |
- NC = Data Not Compiled
- += Some data points for Money Market Fund flows between March 2010 and July 14, 2010 are missing but the overall trend is clear.
- Raw data from AMG Weekly Fund Flows Data:
US Treasury Rates for Nov 6, 2010
| COUPON | MATURITY | % YIELD | |
|---|---|---|---|
| 3-Month | 0.000 | 02/03/2011 | 0.11 |
| 6-Month | 0.000 | 05/05/2011 | 0.15 |
| 12-Month | 0.000 | 10/20/2011 | 0.20 |
| 2-Year | 0.375 | 10/31/2012 | 0.37 |
| 3-Year | 0.500 | 10/15/2013 | 0.51 |
| 5-Year | 1.250 | 10/31/2015 | 1.09 |
| 7-Year | 1.875 | 10/31/2017 | 1.76 |
| 10-Year | 2.625 | 08/15/2020 | 2.53 |
| 30-Year | 3.875 | 08/15/2040 | 4.12 |
More Info:
Since 12/31/98 "Kirk's Newsletter Explore Portfolio" is UP 190% (a double plus another 90%!!) vs. the S&P500 UP only 21% vs. NASDAQ UP a only 18% (All through 11/7/10)
In 2009, "Kirk's Newsletter Explore Portfolio" gained 33.5% vs. the DJIA up 18.8%
2010 YTD the "Explore Portfolio" is up 11.8% YTD
2010 YTD the "Explore Portfolio" is up 11.8% YTD
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kirklindstrom.com
AMG Weekly Fund Flows Data http://www.amgdata.com/
ReplyDeleteWeekly 11/10/2010
Equity Fund Inflows $9 Bil
Taxable Bond Fund Inflows $3.1 Bil
xETFs -
Equity Fund Inflows $1.8 Bil
Taxable Bond Fund Inflows $3.3 Bil
For the week ended 11/10/2010 all Equity funds report net inflows totaling $9.031 billion, with Equity ETFs accounting for $7.280 billion of the net new money. ExETFs—Domestic Equity funds report net inflows of $1.067 billion and Non-Domestic Equity funds report net inflows of $0.683 billion... ExETFs—Emerging Markets Equity funds report net inflows of $0.853 billion, the group’s twenty-third consecutive week of positive flows... Net inflows are reported for All Taxable Bond funds (+$3.101 billion), bringing the rate of inflows of the $2.738-trillion sector to $2.760 billion/week... International & Global Debt funds (+$1.195 billion) continued to draw assets as they reported inflows for the twenty-fourth consecutive week... Net inflows of $0.649 billion were reported for Corp-Investment Grade funds... Flexible funds reported net inflows of $0.691 billion… Money Market funds report net inflows of $5.292 billion. ExETFs—Municipal Bond funds report net inflows of $0.034 billion...
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ReplyDeleteAMG Weekly Fund Flows Data http://www.amgdata.com/
Weekly 11/17/2010
Equity Fund Outflows -$4.3 Bil
Taxable Bond Fund Inflows $108 Mil
xETFs -
Equity Fund Inflows $145 Mil
Taxable Bond Fund Inflows $1.4 Bil
ExETFs—For the week ended 11/17/2010 all Equity funds report net inflows totaling $0.145 billion, with Domestic Equity funds reporting net outflows of $0.811 billion and Non-Domestic Equity funds reporting net inflows of $0.956 billion... ExETFs—Emerging Markets Equity funds report net inflows of $0.452 billion, the group’s twenty-fourth consecutive week of positive flows... Net inflows are reported for All Taxable Bond funds (+$0.108 billion), bringing the rate of inflows of the $2.725-trillion sector to $5.441 billion/week... International & Global Debt funds (+$0.655 billion) continued to draw assets as they reported inflows for the twenty-fifth consecutive week... Net inflows of $0.068 billion were reported for Corp-Investment Grade funds... Flexible funds reported net inflows of $0.406 billion… Money Market funds report net outflows of $8.711 billion... ExETFs—Municipal Bond funds report net outflows of $2.992 billion, the largest weekly outflow for this group on record...
AMG Weekly Fund Flows Data http://www.amgdata.com/
ReplyDeleteWeekly 11/24/2010
Equity Fund Inflows $2 Bil
Taxable Bond Fund Inflows $1.9 Bil
xETFs -
Equity Fund Inflows $851 Mil
Taxable Bond Fund Inflows $2.2 Bil
ExETFs—For the week ended 11/24/2010 all Equity funds report net inflows totaling $0.851 billion, with Domestic Equity funds reporting net inflows of $0.173 billion and Non-Domestic Equity funds reporting net inflows of $0.678 billion... ExETFs—Emerging Markets Equity funds report net inflows of $0.493 billion, the group’s twenty-fifth consecutive week of positive flows... Net inflows are reported for All Taxable Bond funds (+$1.876 billion), bringing the rate of inflows of the $2.728-trillion sector to $4.857 billion/week... International & Global Debt funds (+$0.574 billion) continued to draw assets as they reported inflows for the twenty-sixth consecutive week... Net inflows of $0.792 billion were reported for Corp-Investment Grade funds... Flexible funds reported net inflows of $0.741 billion… Money Market funds report net inflows of $12.715 billion... ExETFs—Municipal Bond funds report net outflows of $2.247 billion, their second consecutive week of large outflows...
The flows into equity funds peaked in 2007 which was one indicator for me to take profits. In fact, the total fund flows more than doubled their 2007 level of $52.5B to $113.B.
ReplyDeleteWhat we see in late 2010 is money pouring out of money funds as many draw down savings in this recession but we also see money pouring into bond funds, $146.5B so far just this year!
We see very little money flowing into equities despite good yield, valuation and great gains since March 2009. My "explore portfolio" is up nearly 10% YTD but few are buying equities. When the tide changes when interest rates go up, some of the exodus from bond funds will make its way to equities and we could be surprised by the gains.
Here are some interesting calculations I did using the weekly data:
My Calculations (Fund Flows in $B):
Total Equity Fund Flows for 2010 => 8.5
Total Taxable Bond Fund Flows for 2010 => 146.5
Total Money Market Fund Flows for 2010 => (402.0)
Total Equity Fund Flows for 2008 to 2010 => 18.0
Total Taxable Bond Fund Flows for 2008 to 2010 => 315.1
Total Money Market Fund Flows for 2008 to 2010 => (74.3)
The ratio of money flowing into bond funds vs equity funds is stunning.
Bond:Equity Ratio for 2008 to 2010 17.6 to 1!!!
I went against the "flow" and took all money out of bond funds not indexed to inflation for my own portfolio and my newsletter core portfolio. We still have some money in bond funds in "The Retirement Advisor" newsletter portfolios for income (medium and short duration) but we plan to make changes before the Fed finishes with QE2.