The primary driver of flow in Q1 was again capital pouring into US Cash Management strategies to the tune of $330.3 billion. Institutional flows into US cash have been larger than any other primary strategy for the seven consecutive quarters, however inflows in Q1 2020 were the largest ever since eVestment began tracking institutional flow in 2005, by nearly 3x.
Outside of cash management, inflows were dominated by passive equity strategies, including ACWI ex-US Passive receiving a net $40.0 billion, US Passive S&P 500 with $20.7 billion and EAFE Passive Equity with $15.4 billion of inflows. If the fixed income redemptions in the quarter were to fund opportunistic allocations amid the crisis, then the investment of choice was clearly a passive approach, at least in the near term.
The attached video show Fund Flows for Refinitiv Lipper
For the thirteenth consecutive week, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $10.6 billion for Lipper’s fund-flows week ended May 27, 2020. Fund investors were net purchasers of taxable fixed income funds (+$12.5 billion) and municipal bond funds (+$1.1 billion), while being net redeemers of equity funds (-$2.9 billion) and money market funds (-$41 million, the group’s second consecutive week of net redemptions) this week