- Detroit's bankruptcy filing kept municipal-bond funds in heavy redemptions; the category group lost $10.3 billion in July to mark the fifth straight month of outflows.
- Value offerings led the way among equity funds, which was likely a result of yield-starved fixed-income investors seeking dividend income. Large-value funds collected $3.3 billion, the category's strongest inflow since February 2007.
- JPMorgan led all providers with inflows of $3.4 billion. Dimensional Fund Advisors, Oakmark, Principal Funds, and MFS have also gained market share over the last year.
- Investors pulled $7.5 billion from PIMCO Total Return in July, its third month of outflows. The fund has seen outflows of $18.4 billion over the previous three months compared with inflows of $21.5 billion over the 16-month period from January 2012 through April 2013.
Morningstar Reports U.S. Mutual Fund Asset Flows For July 2013
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