15 October 2018

Institutional Investors Pull $2.8 Billion From Traditional Managers

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Institutional investors pulled a net $2.8 billion from traditional asset managers during the first quarter, with fixed-income net inflows offset by active equity net outflows, according to data provider eVestment in its quarterly traditional asset flows report.

This was in comparison to $15.4 billion in net inflows for the fourth quarter of 2017.

Fixed-income strategies in the first quarter had $101.2 billion in net inflows, compared with $92.2 billion in net inflows the previous quarter.

Active U.S. fixed-income managers gained a net $23 billion in the first quarter, down from $56.2 billion in net inflows in the fourth quarter of 2017. Passive U.S. fixed-income managers gained a net $16.4 billion in the first quarter, compared to a net $15.4 billion the previous quarter.

Active non-U.S. fixed-income strategies saw the largest net inflows in the quarter at $57.7 billion. That compared with $35.2 billion in net inflows for the previous quarter. Passive non-U.S. fixed-income strategies added a net $4.1 billion, compared with $11.4 billion in net inflows the previous quarter.

On the equities side, active U.S. managers saw net outflows of $64.7 billion in the first quarter, compared with $78.6 billion in net outflows the previous quarter. Passive U.S. managers saw net outflows of $39.7 billion during the quarter ended March 31, compared to $17 billion in net outflows during the fourth quarter of 2017.

Active non-U.S. equities saw net outflows of $5.7 billion during the first quarter. Comparison data was not available for the previous quarter. Passive non-U.S. equities were the only equities that saw net inflows, at $9.6 billion during the first quarter, compared to net inflows of $10 billion during the fourth quarter of 2017.

The rest of the flows came from multiasset and cash management strategies.

Click here for the original article from Pensions and Investments.

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