Stock and bond funds saw net outflows of $2.7 billion in June, following inflows of $5.3 billion in May, according to Financial Research Corp. U.S. large-cap blend-style strategies gained the most assets in June, with net inflows of $3.43 billion, followed by foreign large-cap blend with $2.1 billion and U.S. large-cap growth with $2.06 billion.
Among money managers, State Street Global Advisors led the way with inflows of $5.9 billion, with the bulk going to the firm's ETF products. The only other firms to see inflows of more than $1 billion for June were American Funds, with $3.1 billion; Eaton Vance Distributors, with $1.5 billion; and BNY Hamilton, with $1.4 billion. Among the 25 largest fund groups, the FRC data showed Fidelity with the heaviest net outflows, at $4.6 billion.
