U.S. high-yield funds recorded an inflow of $1.2 billion in the week ended April 6, according to Lipper. The positive flow figure wipes out last week's $545 million outflow, and it's the seventh net one-week inflow over the past eight weeks, for positive $14 billion over that span.
The influence of ETFs was just 28% this past week, or $333 million of the infusion. In contrast, the ETF influence of last week's outflow was all-encompassing, at negative $596 million, against a tiny inflow of $51 million to mutual funds, or inverse 109%. Whatever that might suggest about fast money, market timing, and hedging strategies, it's dissipated this past week.
Still, the year-to-date inflow figure of $8.9 billion remains ETF-heavy, at 47% of the sum. Last year at this juncture, the net inflow was $10.7 billion, with 45% linked to the ETF segment. The four-week-trailing average shrank to positive $1.1 billion per week, from positive $1.3 billion last week and positive $2.6 billion two weeks ago.
The change due to market conditions this past week was positive $1.2 billion, representing a gain of roughly 0.6% against total assets, which were $186.9 billion at the end of the observation period. ETFs account for about 21% of the total, at $39.9 billion. — Matt Fuller
Follow Matthew on Twitter @mfuller2009 for leveraged debt deal-flow, fund-flow, trading new, and more.
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