Wed, Nov 13, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Traditional fixed-income strategies see net inflows in 2Q 2019: eVestment

Friday, August 30, 2019
Opalesque Industry Update - Long-only asset managers reported Q2 2019 institutional assets under management of $28.4 trillion to eVestment, according to the 2Q 2019 eVestment Traditional Asset Flows Report.

Net institutional flows totaled -$52.4 billion in the most recent quarter and -$370.1 billion over the past four quarters, according to the report.

The quarterly eVestment Traditional Asset Flows report highlights institutional investment asset flow trends globally and regionally across equities and fixed-income strategies based on data reported to eVestment by asset managers around the world.

Fixed income managers, excluding cash management strategies, reported net institutional inflows of +$38.3 bn in Q2 2019. Active non-U.S. bond strategies accounted for the bulk of these allocations (+$35.7 bn).

On a strategy basis, global multi-sector fixed income, global core plus and EM debt blended currency managers led in terms of fresh allocations; the breadth of Europe fixed income strategies also saw significant institutional support during the quarter.

Institutional flows for U.S. bond managers measured -$7.3 bn in Q2 2019, equivalent to -0.1% of beginning-of-period AUM. The quarter brought strong inflows for active core plus (+$15.7 bn) and passive core (+$14.0 bn) strategies.

Credit-exposed strategies, on the other hand, accounted for a significant proportion of overall U.S. bond redemptions including bank loans (-$10.0 bn), high yield (-$8.1 bn) and corporates (-$5.4 bn).

Equity strategies experienced net institutional outflows of -$122.9 bn in the most recent quarter. Passive equity strategies, however, posted net allocations of +$12.9 bn led largely by ACWI ex-U.S. (+$12.0 bn), S&P 500 (+$10.5 bn) and emerging markets products (+$4.7 bn). U.S. all cap equity and Russell 1000 strategies bore the brunt of outflows from passive strategies.

Active equity strategies continued to see outflows, -$63.6 bn for active U.S. and -$72.2 bn for active non-U.S. managers in Q2 2019. Non-U.S. growth products did see some support, led by global all cap growth (+$3.3 bn), ACWI ex-U.S. all cap growth (+$2.7 bn) and global large cap growth (+$1.4 bn); core and value strategies saw outflows across the board.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Fund managers face crackdown after Neil Woodford scandal, More than 500 Hargreaves clients join Woodford lawsuit[more]

    Fund managers face crackdown after Neil Woodford scandal From The Times: Asset management giants have been warned that their funds could be suspended and wound up after just three months if they do not ditch riskier stocks in the wake of Neil Woodford's downfall. The threat has been

  2. Ackman, down in October, has a new position[more]

    From Institutional Investor: Bill Ackman isn't done with shaking up his portfolio this year. After trimming several of his biggest positions that soared this year, Ackman is building a new undisclosed stake that already comprises 8 percent to 9.5 percent of his portfolios, he told investors. P

  3. PE/VC: Private equity is the new stock, Private equity fundraising in the US hits all-time high, Foreign private equity firms lead $152bn blitz on London Stock Exchange[more]

    Private equity is the new stock From Institutional Investor: The traditional portfolio of stocks and bonds needs an alternative investment shake-up after failed monetary policy, according to executives at JPMorgan Chase & Co.'s asset management unit. "We are in an odd cyclical posit

  4. Opinion: Cliff Asness: It's 'time to sin'[more]

    From Institutional Investor: Timing the market can be "deceptively difficult," as quantitative investor Cliff Asness has pointed out before. But now, the AQR Capital Management co-founder believes that while factor timing is "an ugly thing," it is "about time we did some" - specifically when it com

  5. Investing: Hedge fund Whitebox places big bet on gunmaker Remington, Quant funds exit Japanese bonds in worst sell-off since 2013[more]

    Hedge fund Whitebox places big bet on gunmaker Remington From Reuters: Whitebox Advisors LLC, a credit-focused hedge fund, has been quietly capitalizing on Wall Street's ambivalence toward gun manufacturers by replacing some banks as a lender to Remington Outdoor Company. Whitebox