Fund flows up in volatile February, active sees inflows
U.S. mutual funds and exchange-traded funds saw $17.2 billion in net inflows in February, and almost $80 billion year-to-date. Vanguard and iShares were the top managers by net inflows. American Funds and State Street Global Advisors' SPDR ETF business were among those with the highest net outflows. The SPDR S&P 500 ETF alone had $27.8 billion in outflows during the month as COVID-19 fears sent investors to the exits.
Active funds had a positive February with $4.9 billion in net inflows, marking their highest month of inflows since January 2019. Year-to-date flows totaled $6.7 billion. The fund group totaled about $125 billion in net outflows over the 10-month period ended Dec. 31.
Flows to active managers, however, were not directed to U.S. equity. International equity and fixed-income funds took the bulk of client flows in February, as well as over the first two months of the year.