US Mutual Funds Monthly Statistics (Including ETFs)

US Mutual Funds

Monthly Statistics

(Including ETFs)

Yardeni Research, Inc.

November 25, 2015

Dr. Edward Yardeni

516-972-7683

eyardeni@yardeni.com

Debbie Johnson

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Table Of Contents

_{Table Of Contents}

_{Table Of Contents}

Equity Funds Monthly Flows

1

Bond Funds Monthly Flows

2

Equity Funds Yearly Flows

3

Bond Funds Yearly Flows

4

Equity Cumulative Flows

5-6

Bond Cumulative Flows

7

US Equity Mutual Funds: Net 12-Month Inflows

8

Selected Mutual Funds

9

ETFS: Net Share Issuance

10

US Mutual Funds: Net 12-Month Inflows

11

Figure 1.

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -80 -60 -40 -20 0 20 40 60 80 -80 -60 -40 -20 0 20 40 60 80 Oct

EQUITY MUTUAL FUNDS*

(monthly net inflows, billion dollars)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -40 -20 0 20 40 60 -40 -20 0 20 40 60 Oct

ETF EQUITY INDEX FUNDS

(monthly net inflows, billion dollars)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -75 -50 -25 0 25 50 75 100 125 -75 -50 -25 0 25 50 75 100 125 Oct

EQUITY MUTUAL FUNDS*

PLUS ETF EQUITY INDEX FUNDS

(monthly net inflows, billion dollars)

* Net sales (including reinvested dividends) less redemptions plus the net results of fund switches. Source: Investment Company Institute.

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Figure 2.

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -100 -50 0 50 100 -100 -50 0 50 100 Oct

BOND MUTUAL FUNDS*

(monthly net inflows, billion dollars)

yardeni.com 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -10 0 10 20 -10 0 10 20 Oct

ETF BOND INDEX FUNDS

(monthly net inflows, billion dollars)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -100 -50 0 50 100 -100 -50 0 50 100 Oct

BOND MUTUAL FUNDS*

PLUS ETF BOND INDEX FUNDS

(monthly net inflows, billion dollars)

* Net sales (including reinvested dividends) less redemptions plus the net results of fund switches. Source: Investment Company Institute.

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Figure 3.

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -200 0 200 400 600 -200 0 200 400 600 Oct

EQUITY MUTUAL FUNDS* PLUS ETF EQUITY INDEX FUNDS

(yearly net inflows, billion dollars)

yardeni.com 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -200 -100 0 100 200 300 400 -200 -100 0 100 200 300 400 Oct

EQUITY MUTUAL FUNDS*

(yearly net inflows, billion dollars)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -200 0 200 400 -200 0 200 400 Oct

ETF EQUITY INDEX FUNDS

(yearly net inflows, billion dollars)

* Net sales (including reinvested dividends) less redemptions plus the net results of fund switches. Source: Investment Company Institute.

Figure 4.

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -100 0 100 200 300 400 500 600 -100 0 100 200 300 400 500 600 Oct

BOND MUTUAL FUNDS*

(yearly net inflows, billion dollars)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -10 0 10 20 30 40 50 60 70 80 -10 0 10 20 30 40 50 60 70 80 Oct

ETF BOND INDEX FUNDS

(yearly net inflows, billion dollars)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -100 0 100 200 300 400 500 600 -100 0 100 200 300 400 500 600 Oct

BOND MUTUAL FUNDS*

PLUS ETF BOND INDEX FUNDS

(yearly net inflows, billion dollars)

* Net sales (including reinvested dividends) less redemptions plus the net results of fund switches. Source: Investment Company Institute.

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90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 .0 .5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 9.0 .0 .5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 9.0 Oct

EQUITY MUTUAL FUNDS

(cumulative flows since 1990, trillion dollars)

Cumulative Flows

Net Assets (8.2) Net Inflows (2.9) Capital Gains (5.3)

Source: Investment Company Institute.

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Figure 5.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -.3 -.2 -.1 .0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 -.3 -.2 -.1 .0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 Oct

ETF EQUITY INDEX FUNDS

(cumulative flows since 2001, trillion dollars)

Cumulative Flows

Net Assets (1.7) Net Inflows (1.4) Capital Gains (0.3)

Source: Investment Company Institute.

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Figure 6.

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 .0 .2 .4 .6 .8 1.0 1.2 1.4 1.6 1.8 .0 .2 .4 .6 .8 1.0 1.2 1.4 1.6 1.8 Oct

NET INFLOWS INTO EQUITY MUTUAL FUNDS

(cumulative flows since 2000, trillion dollars)

Total (1.4) International* (1.1) Domestic (0.3)

* Includes Global & International, Emerging Markets, and Regional Funds. Source: Investment Company Institute.

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Figure 7.

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 0 20 40 60 80 100 0 20 40 60 80 100 Oct

NET INFLOWS INTO EQUITY MUTUAL FUNDS

(cumulative flows since 2000, percent of total)

International* (79.3) Domestic (20.7)

* Includes Global & International, Emerging Markets, and Regional Funds. Source: Investment Company Institute.

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Figure 8.

90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 .0 .5 1.0 1.5 2.0 2.5 3.0 3.5 .0 .5 1.0 1.5 2.0 2.5 3.0 3.5 Oct

BOND MUTUAL FUNDS

(cumulative flows since 1990, trillion dollars)

Cumulative Flows

Net Assets (3.3) Net Inflows (2.8) Capital Gains (0.4)

Source: Investment Company Institute.

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Figure 9.

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -25 25 75 125 175 225 275 325 375 -25 25 75 125 175 225 275 325 375 Oct

ETF BOND INDEX FUNDS

(cumulative flows since 2003, billion dollars)

Cumulative Flows

Net Assets (341.0) Net Inflows (343.9) Capital Gains (-2.9)

Source: Investment Company Institute.

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Figure 10.

Figure 11.

01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 -30 -10 10 30 50 70 90 Oct

SECTOR

01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 -75 -50 -25 0 25 50 75 100 125 150 175 200 Oct

GLOBAL & INTERNATIONAL

01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 -100 -60 -20 20 60 100 140 180 220 260 Oct

GROWTH

01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 -15 -5 5 15 25 35 45 Oct

EMERGING MARKETS

01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 -20 -15 -10 -5 0 5 10 15 20 25 Oct

REGIONAL

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Source: Investment Company Institute.

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -75 -50 -25 0 25 50 75 100 125 150 175 200 225 250 275 -75 -50 -25 0 25 50 75 100 125 150 175 200 225 250 275 Oct

MUTUAL FUNDS (GLOBAL & INTERNATIONAL + EMERGING EQUITY + REGIONAL)

+ GLOBAL/INTERNATIONAL EQUITY INDEX FUNDS*

(12-month net inflows, billion dollars)

* Net sales (including reinvested dividends) less redemptions plus the net result of fund switches. Source: Investment Company Institute.

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Figure 12.

Figure 13.

02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 0 40 80 120 160 200 240 280 320 Oct

TOTAL ETFS

(12-month net inflows, billion dollars)

02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 0 20 40 60 80 100 120 140 160 180 200 220 240 Oct

EQUITY INDEX FUNDS

02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 -10 10 30 50 70 90 110 130 150 Oct

DOMESTIC EQUITY INDEX FUNDS

02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 -50 0 50 100 150 Oct

DOMESTIC EQUITY INDEX FUNDS

Broad Based 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 0 10 20 30 40 50 60 Oct

DOMESTIC EQUITY INDEX FUNDS

Sector/Industry 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 0 10 20 30 40 50 60 70 80 90 100 110 120 Oct

GLOBAL/INTERNATIONAL

EQUITY INDEX FUNDS

yardeni.com 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 0 20 40 60 80 Oct

BOND INDEX FUNDS

* Gross share issuance minus gross share redemptions. Source: Investment Company Institute.

Figure 14.

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -300 -200 -100 0 100 200 300 -300 -200 -100 0 100 200 300 Oct

MONEY MARKET MUTUAL FUNDS HELD BY INDIVIDUALS

(12-month change, billion dollars)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0 100 200 300 400 500 600 700 800 0 100 200 300 400 500 600 700 800 Oct

SAVINGS DEPOSITS**

(12-month change, billion dollars)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 -150 0 150 300 450 600 750 -150 0 150 300 450 600 750 Oct

EQUITY + BOND MUTUAL FUNDS*

(12-month net inflows, billion dollars)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0 200 400 600 800 1000 1200 0 200 400 600 800 1000 1200 Oct

MUTUAL FUNDS (EQUITY + BOND + RETAIL MONEY MARKET) + SAVINGS DEPOSITS

(12-month net inflows, billion dollars)

* Net sales (including reinvested dividends) less redemptions plus the net result of fund switches. ** Includes money market deposit accounts, but not small time deposits.

Source: Board of Governors of the Federal Reserve System and Investment Company Institute.

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