Lipper Research

Most Recent Research

Report Type / Publish DateReport Name
Aug 18, 2015

Fund Investors Duck for Cover in July

For the third month in a row mutual fund investors injected net new money into the conventional funds business (+$39.5 billion). Money market funds (+$52.9 billion) experienced the only net inflows of the three broad groups for the month. Investors were net redeemers of stock & mixed-asset funds (-$6.4 billion) and bond funds (-$7.1 billion). Despite concerns of a global economic slowdown, the World Equity Funds macro-classification (+$18.6 billion) took in the largest monthly net inflows of Lipper's five equity macro-classifications.For the sixth consecutive month authorized participants (APs) were net purchasers of exchange-traded fund (ETF) assets (+$23.5 billion), injecting $16.0 billion net into stock & mixed-asset ETFs and $7.5 billion into bond ETFs. APs changed their focus to USDE ETFs in July, injecting a net $9.8 billion into the macro-classification.  
Aug 04, 2015

The Month in Closed-End Funds: July 2015

For the first month in three fixed income closed-end funds (CEFs) witnessed plus-side returns, gaining on average 0.45% on a net-asset-value (NAV) basis, while their equity CEF counterparts—for the third consecutive month—were in the red, losing 0.72% on average for July.  For July only 6% of all CEFs traded at a premium to their NAV, with 8% of equity funds and 5% of fixed income funds trading in premium territory. The national municipal debt CEFs macro-group witnessed the largest narrowing of discounts for the month—119 basis points (bps) to 8.49%. For the first month in four all of Lipper's municipal bond CEF classifications posted plus-side returns, with New York Municipal Debt CEFs (+1.20%) posting the strongest return in the muni group and the fixed income universe. Despite interest rate-increase concerns, mixed-asset CEFs (+0.77%) outshone their domestic equity CEFs (-0.80%) and world equity CEFs (-1.52%) brethren. Real Estate CEFs (+2.92%) posted the strongest NAV-based return in the equity universe for the month, while Natural Resources CEFs (-6.70%) was at the bottom. 
Aug 02, 2015

Lipper U.S. Mutual Funds and Exchange-Traded Products Q2 2015 Snapshot

In this issue of Lipper's U.S. Mutual Funds and Exchange-Traded Products Snapshot, we feature a summary of total net assets, estimated net flows, and new fund creations for conventional funds and exchange-traded products for Q2 2015, comparing those changes to prior quarters and highlighting the largest individual gainers and losers of both groups. Lipper's U.S. Mutual Funds and Exchange-Traded Products Snapshot provides readers a powerful, easy-to-use guide and quick reference tool to help them discern fund trends for the quarter.
Jul 19, 2015

Investors Remain Enamored of World Equity Funds in June

For the second month in a row mutual fund investors injected net new money into the conventional funds business (+$8.9 billion). Money market funds (+$8.7 billion) experienced net inflows for the second consecutive month. Investors continued to pad the coffers of stock & mixed-asset funds (+$7.7 billion for June), but they became skittish about bond funds for the first month in six, redeeming $7.5 billion. The World Equity Funds macro-classification (+$13.3 billion) took in the largest monthly net inflows of Lipper's five equity macro-classifications.For the fifth consecutive month authorized participants (APs) were net purchasers of exchange-traded fund (ETF) assets (+$17.6 billion), injecting $19.7 billion net into stock & mixed-asset ETFs, while withdrawing a net $2.1 billion from bond ETFs. APs remained focused on World Equity ETFs, injecting a net $9.6 billion into the macro-classification for June.
Jul 06, 2015

Greek Debt: Comedy and Tragedy in Many Acts

Given a scenario in which Greece steps closer to a euro exit, Puerto Rico’s governor announces that his island cannot possibly pay its debt, and stocks in one very large country (China) violently spiral lower, one might have thought Treasuries would rally out of all of that chaos. Instead, Treasury activity implied that each of those events would have a limited effect on global wealth, at least for the time being. China, for example, has seen the Shanghai Composite rise almost 60% this year (despite lackluster fundamentals), so the recent selloff is not all that surprising. No, Treasury-related funds suffered through a disappointing quarter because investors believe the Federal Reserve is getting closer to raising the Fed funds rate in September. Leading up to quarter-end, William Dudley (president of the Federal Reserve Bank of New York),said recent wage gains and growing household spending had assuaged some of his concerns about America’s jobs market. Other governors voiced similar support for a possible rate hike before year-end, although no one sounded completely sure it would be done.
Jul 05, 2015

The Month in Closed-End Funds: June 2015

For the second consecutive month both equity and fixed income closed-end funds (CEFs) suffered negative returns, with equity funds losing on average 2.84% on a net-asset-value (NAV) basis, while their fixed income counterparts lost 0.74% on average.  For June only 5% of all CEFs traded at a premium to their NAV, with 7% of equity funds and 4% of fixed income funds trading in premium territory. Lipper's World Equity CEFs macro-classification witnessed the smallest widening of discounts for the month—19 basis points (bps) to 11.61%. For the third consecutive month all of Lipper's municipal bond CEF classifications posted returns in the red, with Intermediate Municipal Debt CEFs (-0.22%) mitigating losses better than the other classifications in the muni group. Despite the Greek debt drama, world equity CEFs (-2.04%) mitigated losses better than their mixed-asset CEFs (-2.11%) and domestic equity CEFs (-3.41%) brethren. Growth CEFs (+0.68%) posted the only positive return in the equity universe for the month, while Energy MLP CEFs (-8.85%) was at the bottom.
Jul 01, 2015

Equity Funds Just Manage to Post Plus-Side Returns for Q2 2015

• For Q2 2015 equity funds (+0.09% on average) posted their third consecutive quarterly gain. World Equity Funds (+1.22%) was at the head of the class for the second quarter in a row, outpacing Lipper's other three broad equity macro-classifications: U.S. Diversified Equity (USDE) Funds (+0.03%), Mixed-Asset Funds (-0.66%), and Sector Equity Funds (-1.80%).• The Sector Equity Funds macro-classification housed four of the five best performing classifications in the equity universe, with Commodities Energy Funds (+9.27%, the equity universe’s top-performing classification) and Commodities Agricultural Funds (+5.28%) posting the strongest returns of that group. • Despite ongoing geopolitical concerns, investors bid up China Region Funds (+7.64%) and Japanese Funds (+3.95%) during the quarter. 
Jun 16, 2015

Investors Are Still Drawn to World Equity Funds in May

For the first month in three mutual fund investors injected net new money into the conventional funds business (+$38.1 billion). Money market funds (+$20.3 billion) experienced net inflows for the first month in five, while investors continued to pad the coffers of stock & mixed-asset funds (+$3.3 billion) and bond funds (+$14.6 billion). The World Equity Funds macro-classification (+$11.8 billion) took in the largest monthly net inflows of Lipper’s five equity macro-classifications.For the fourth consecutive month authorized participants (APs) were net purchasers of exchange-traded fund (ETF) assets (+$11.7 billion), injecting $12.6 billion net into stock & mixed-asset ETFs, while withdrawing a net $1.0 billion from bond ETFs. APs also continued their interest in World Equity ETFs, injecting a net $12.7 billion into the macro-classification.
Jun 02, 2015

The Month in Closed-End Funds: May 2015

For the first month in six both equity and fixed income closed-end funds (CEFs) suffered negative returns, with equity funds losing on average 0.10% on a net-asset-value (NAV) basis, while, their fixed income counterparts lost 0.21% on average.  For May only 9% of all CEFs traded at a premium to their NAV, with 10% of equity funds and 8% of fixed income funds trading in premium territory. Lipper’s World Equity CEFs macro-classification witnessed the smallest widening of discounts for the month—9 basis points (bps) to 11.42%. For the second consecutive month all of Lipper’s municipal bond CEF classifications posted returns in the red, with High Yield Municipal Debt CEFs (-0.15%) mitigating losses better than the other classifications in the muni group. Mixed-asset CEFs (+0.64%) outpaced their domestic equity CEFs (-0.17%) and world equity CEFs (-0.42%) brethren. Convertible Securities CEFs (+1.89%) posted the strongest return in the equity universe for the month, while Natural Resources CEFs (-3.53%) was at the bottom. 
May 18, 2015

World Equity Funds Still on the Top of the Charts for April

For the second consecutive month mutual fund investors withdrew money from the conventional funds business. Money market funds (-$75.2 billion) experienced the only net outflows for April of the three broad asset classes, while investors injected $6.9 billion into stock & mixed-asset funds and $12.7 billion into bond funds. The World Equity Funds macro-classification (+$18.2 billion, its largest net inflows since at least January 2008) took in the largest monthly net inflows of Lipper’s five equity macro-classifications.For the third consecutive month authorized participants (APs) were net purchasers of exchange-traded fund (ETF) assets (+$15.3 billion), injecting $10.3 billion net into stock & mixed-asset ETFs and a net $5.0 billion into bond ETFs for April. APs also had a predilection for World Equity ETFs, injecting a net $23.2 billion into the macro-classification—its largest net inflows since at least September 2009.  

About Lipper Research

Lipper's Global Research Team has nearly three centuries of collective fund industry experience, and provides unparalleled web and print based content and analysis to fund management firms, financial advisors, and individual investors. Our analysts span the globe, providing regional coverage of fund markets from 16 research centers worldwide. more

 

Lipper Fund Market Insight Reports provide in-depth summaries and analysis of key economic and market events that help shape both fixed income and equity mutual fund performance trends. These monthly and quarterly reports allow you to view trends within the equity and fixed income fund universes, highlighted in detailed charts, graphs, and commentary.

 

Lipper Fund Flows Insight Reports provide you with critical monthly mutual fund money flow trends and analysis. Fund managers and marketing analysts receive revealing information about which types of funds investors have been putting their money in and why. The reports also provide an important resource that can help market strategists, hedge fund managers, and all types of asset managers to project which asset classes, regions, sectors, and investment styles may potentially see the largets money inflows in coming months, depending on specific future market movements.

 

Lipper provides mutual fund professionals and shareholder advocates comprehensive studies focusing on the issues affecting today's industry. These original studies contain classification benchmarks enabling readers to measure their funds against peers, along with expert commentary providing insights to help sell funds, identify product placements opportunities, remain competitive, and manage accounts.

View Overview Page For