Lipper Research

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Report Type / Publish DateReport Name
Jan 26, 2015

Lipper U.S. Mutual Funds and Exchange-Traded Products Q4 2014 Snapshot

In this inaugural 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 Q4 2014, 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.
Jan 20, 2015

Retail Investors Are in Stark Contrast With Authorized Participants in December

Mutual fund investors turned a cold shoulder to long-term mutual funds, redeeming $32.2 billion from stock & mixed-asset funds (their first net redemptions in 24 months) and $16.1 billion from bond funds. Money market funds (+$79.7 billion) experienced the only net inflows of the three broad asset classes for December. The Mixed-Asset Funds macro-classification (-$4.5 billion) suffered its first month of net redemptions since November 2011.Authorized participants injected $38.3 billion net into stock & mixed-asset exchange-traded funds (ETFs) for December. Lipper's S&P 500 Index ETFs classification (+$18.1 billion) attracted the largest net sum for the month. For the third month in a row bond ETFs (+$2.9 billion net) experienced net purchases, with Core Bond ETFs (+$4.7 billion) witnessing the largest net inflows of the group.  
Jan 06, 2015

Global Growth Worries Fuel Safe-Haven Bond Plays

Treasury funds and munis were all the rage in Q4 as investors bolted for safer assets while the global economy twisted in the wind.
Jan 05, 2015

The Month in Closed-End Funds: December 2014

For the first month in three both equity and fixed income closed-end funds (CEFs) on average posted returns in the red, with equity CEFs declining 1.43% on a net-asset-value (NAV) basis and their fixed income counterparts losing 0.24% for the month.  For December only 10% of all CEFs traded at a premium to their NAV, with 8% of equity funds and 10% of fixed income funds trading in premium territory. Lipper's domestic equity CEFs macro-group witnessed the largest widening of discounts for the month--202 basis points (bps) to 9.02%. Continuing an 11-month trend, all of Lipper's municipal bond CEF classifications posted returns in the black, with General & Insured Municipal Bond CEFs (Leveraged) (+1.24%) posting the best return. Once again, mixed-asset CEFs (-0.73%) outpaced their domestic equity CEFs (-1.15%) and world equity CEFs (-2.43%) brethren. Once again, Real Estate CEFs (+0.83%) posted the strongest return in the equity universe for the month, while Energy MLP CEFs (-6.09%) was at the bottom. 
Jan 04, 2015

Equity Funds Post Their Third Consecutive Year of Plus-Side Returns

For Q4 2014 equity funds (+1.92% on average) posted their ninth quarterly gain in ten. U.S. Diversified Equity (USDE) Funds (+4.60%) jumped to the head of the class for the first quarter in four, outperforming Lipper's other three broad equity macro-classifications: Mixed-Asset Funds (+1.18%), Sector Equity Funds (+0.25%), and World Equity Funds (-2.57%).The Sector Equity Funds macro-classification housed the four best performing classifications in the equity universe: Real Estate Funds (+13.00%), the short-bias Commodities Specialty Funds (+10.75%), Health/Biotechnology Funds (+10.00%), and Consumer Services Funds (+8.61%). Despite ongoing geopolitical concerns , a strengthening dollar, and a massive drop in oil prices, investors continued to bid up China Region Funds (+4.88%) and India Region Funds (+4.59%), two of only six classifications in the World Equity Funds macro-classification posting plus-side returns for Q4. 
Dec 16, 2014

Retail Investors Are Not as Sanguine as Authorized Participants in November

For the seventh month in a row mutual fund investors were net purchasers of fund assets for November, padding the coffers of stock & mixed-asset funds (+$0.3 billion), money market funds (+$25.2 billion), and for the first month in three they were net purchasers of bond funds (+$17.2 billion). Mixed-Asset Funds (+$9.2 billion) attracted the largest amount of net new money of Lipper's five equity macro-classifications. For the eighth consecutive month USDE Funds suffered net redemptions (-$7.5 billion for November).Authorized participants injected a record $41.5 billion into stock & mixed-asset exchange-traded funds (ETFs) for November. Lipper's S&P 500 Index ETFs classification (+$13.3 billion) attracted the largest net sum for the month. For the second month in a row bond ETFs (+$2.2 billion net) experienced net purchases, with Short-Intermediate Investment-Grade Debt ETFs (+$1.2 billion) witnessing the largest net inflows of the group.
Dec 02, 2014

The Month in Closed-End Funds: November 2014

For the second consecutive month both equity and fixed income closed-end funds (CEFs) posted plus-side returns on average, with equity CEFs returning 0.22% on a net-asset-value (NAV) basis and their fixed income counterparts gaining 0.04% for the month. For November only 10% of all CEFs traded at a premium to their NAV, with 11% of equity funds and 9% of fixed income funds trading in premium territory. Lipper's domestic equity CEFs macro-group witnessed the largest narrowing of discounts for the month--64 basis points (bps) to 7.00%. Continuing a ten-month trend, most of Lipper's municipal bond CEF classifications posted returns in the black, with only New Jersey Municipal Bond CEFs (-0.09%) posting a negative return. Once again mixed-asset CEFs (+1.03%) outpaced their domestic equity CEFs (+0.05%) and world equity CEFs (+0.12%) brethren. Real Estate CEFs (+1.54%) posted the strongest return in the equity universe for the month, while Natural Resources CEFs (-4.73%) was at the bottom. 
Nov 18, 2014

Despite Record Market Highs, Investors Favor Money Market Funds in October

• For the sixth month in a row mutual fund investors were net purchasers of fund assets for October, padding the coffers of stock & mixed-asset funds (+$2.8 billion) and money market funds (+$15.1 billion), while for the second month in a row they were net redeemers of bond funds (-$7.4 billion). Once again, redemptions from PIMCO played a large role in the bond fund outflows. • Mixed-Asset Funds (+$5.0 billion) attracted the largest amount of net new money of Lipper's five equity macro-classifications. For the seventh consecutive month USDE Funds suffered net redemptions (-$0.1 billion for October).• Once again, authorized participants increased their exposure to equity exchange-traded funds (ETFs), injecting a net $5.4 billion for October. Lipper's S&P 500 Index ETF classification (+$6.6 billion) attracted the largest net sum for the month. • For the third month in four bond ETFs (+$17.9 billion net) experienced net purchases, with Short U.S. Treasury ETFs (+$6.4 billion) witnessing the largest net inflows of the group. 
Nov 04, 2014

The Month in Closed-End Funds: October 2014

For the second month in three both equity and fixed income closed-end funds (CEFs) posted plus-side returns on average, with equity CEFs returning 0.38% on a net asset value (NAV) basis and their fixed income counterparts gaining 0.89% for the month.  For October only 10% of all CEFs traded at a premium to their NAV, with 11% of equity funds and 10% of fixed income funds trading in premium territory. Lipper's domestic equity CEFs macro-group witnessed the largest narrowing of discounts for the month--73 basis points (bps) to 7.64%.   For the tenth month in a row all of Lipper's municipal bond CEF classifications posted returns in the black, with General & Insured Municipal Bond (Leveraged) CEFs (+1.26%) posting the strongest return.       Once again mixed-asset CEFs (+1.10%) outpaced their domestic equity CEFs (+0.34%) and world equity CEFs (+0.05%) brethren.  Real Estate CEFs (+5.35%) posted the strongest return in the equity universe for the month. 
Oct 16, 2014

Investors Pad the Coffers of Money Market Funds in September

For the fifth month in a row mutual fund investors were net purchasers of fund assets for September, padding the coffers of stock & mixed-asset funds (albeit with just +$0.7 billion) and money market funds (+$23.7 billion), while for the first month in nine being net redeemers of bond funds (-$7.2 billion). Mass redemptions from PIMCO played a large role in the bond fund outflows. World Equity Funds (+$9.2 billion) attracted the largest amount of net new money of Lipper's five equity macro-classifications. For the sixth consecutive month USDE Funds suffered net redemptions (-$14.6 billion for September).Once again, authorized participants increased their exposure to equity exchange-traded funds (ETFs), injecting a net $17.5 billion for September. Lipper's S&P 500 Index ETF classification (+$12.1 billion) attracted the largest net sum for the month. For the first month in three bond ETFs (-$3.4 billion net) suffered net redemptions, with General U.S. Treasury ETFs (-$3.3 billion) witnessing the largest net redemptions of the group.

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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.

 

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