FRC Data Confirms Waning Confidence Of US Investors In Equity Funds

US mutual funds had outflows of $2.7 billion in June, a stark contrast with the inflows of $5.3 billion the previous month, according to data from the Financial Research Corporation. The FRC data show that International/Global funds dropped from its top spot in May, when they drew in $10.1 billion in net inflows. The lead position in June was held by Corporate funds, which showed net outflows of $260 million, a sharp change from their inflows from a year before of about $4 billion. American Funds again ranked at the top of the list of largest fund groups with net inflows of $3.1 billion in June, but well off its prior month tally of $4.9 billion in net inflows. Barclays was replaced by Vanguard Group in the second place spot, with $750 million in outflows. Fidelity took the No. 3 spot with $4.58 billion in outflows. American Funds forfeited its spot as the best selling fund in June (inflow of $3.1 billion) and was replaced by State Street Global Advisors.