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TrimTabs finds US equity funds post biggest quarterly inflow in nine years

Thursday, April 04, 2013
Opalesque Industry Update - TrimTabs Investment Resarch reports that U.S.-listed U.S. equity mutual funds and exchange-traded funds received $52.0 billion in the first quarter, the biggest quarterly inflow since the first quarter of 2004.

“Many pundits dismissed the huge inflows into U.S. equity funds in January as a one-off related to seasonal and tax factors,” said David Santschi, Chief Executive Officer of TrimTabs. “But inflows reached $17.7 billion in March, which was the second-highest monthly level in the past two years.”

In a research note, TrimTabs explained that U.S. equity funds, global equity funds, and bond funds each posted inflows in all three of the first three months of 2013. Global equity mutual funds and ETFs took in $65.7 billion in the first quarter, the fifth consecutive quarterly inflow and the highest quarterly inflow since the first quarter of 2006.

“Investors seem convinced the Fed has their back,” Santschi said. “They snapped up equities across the board as the Fed pumped an average of $4 billion per business day of newly printed money into the financial system.”

The big inflows into equities did not come at the expense of bonds. Bond mutual funds and ETFs received $72.3 billion in the first quarter, the seventeenth consecutive quarterly inflow.

“Lots of market strategists are eagerly anticipating a ‘great rotation’ out of bonds and into stocks, but no such rotation has materialized,” said Santschi. “Last quarter’s inflow into bond funds was right in line with the inflows in previous quarters.”

Press release

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