Lipper-FMI fund flow data - Week ended August 15

Flight to quality seen in US investors’ flows this week, with significant inflows in Treasury ($2.1bn), IG credit ($4bn) and above all money market funds ($10.6bn), the latter having collected more than $75bn in two weeks ! US IG funds have attracted more than $60bn cash year to date, comparing favorably with the previous years (apart from 2017). Meanwhile, leveraged-loan funds posted their 39 th consecutive week of outflows, leading to YtD net outflows of $21.6bn… while US HY funds actually resisted well to the increase in risk aversion : while US stock funds posted $4.6bn outflows, US HY funds managed to attract $350mn inflows.