Mutual fund investors withdrew a combined $7.1 billion last month from funds run by Fidelity, Putnam, Janus and AIM, according to data from Financial Research Corp. In May, Putnam funds experienced outflows of $2.3 billion; Fidelity Investments, $2.1 billion; Janus, $1.5 billion; and AIM, $1.2 billion. Year-to-date as of May 31, Putnam experienced $12.7 billion in outflows; Janus, $9 billion; and AIM, $4.9 billion. Despite the May data, Fidelity gained $15.4 billion year to date.
Capital Research's American Funds family had inflows of $5.4 billion in May, the highest for the month, according to FRC's research. It gained $44 billion for the year as of May 31. The firm's Growth Fund of America fund was the top seller for both last month and the year.
The top 20 fund families included in FRC's research reported total assets of $5 trillion and net outflows of $11 billion for May.
