Lipper-FMI fund flow data - Week ended April 03
Flourishing inflows in credit funds this week ! $2bn inflows in US HY funds, 4 th consecutive week of net inflows and one of the biggest since 2011 (in the 10% highest percentile). YtD , net inflows in US HY funds climb to $12.6bn, getting close to the best year of inflows (2012, see chart below). The same can be said for US IG funds: $2.9bn weekly inflows, leading to almost $22bn YtD and a 12-week rolling net inflows getting close to the record levels of Spring 2017 (see chart opposite). On the other hand, it is worth noticing that leveraged loan funds continue to suffer from the central bank’s dovish policy and lower LT rates since the beginning of the year… although net outflows are now offset by the net inflows coming to US HY bond funds.