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.