Mutual funds also recorded net redemptions for the first time since June 2024, “driven by outflows from balanced funds, with all other major asset classes generating inflows,” SIMA noted. Total monthly net redemptions came in at $1.5 billion.
Balanced mutual funds recorded net redemptions amounting to $2.6 billion in April, compared to $1.7 billion in net redemptions a month prior.
Meanwhile, equity mutual funds reported $372 million in positive net sales, an improvement from the $3.4 billion in net redemptions recorded in March.
Bond mutual funds saw $73 million in net sales, a steep decline from $2.8 billion the previous month.
Specialty mutual funds gathered $438 million in net sales, down from $974 million a month prior.
Money market mutual fund generated $201 million in net sales, down from $2.6 billion.
ETF assets fell too, totalling $546.4 billion in April. This represented a $0.5 billion or 0.1% decline in assets from the previous month.
However, ETF net sales were still in positive territory, driven by inflows into equity ETFs. They totalled $7.2 billion in April, down from $13.9 billion in net sales a month earlier.
Balanced ETFs recorded $629 million in net sales, just slightly up from $628 million in March.
Equity ETFs generated $4.9 billion in net sales, with three-quarters of that going to international funds, the report noted. This was a dip from $6.4 billion the month before.
Bond ETFs received $104 million in net sales, down from $4 billion in March.
Specialty ETFs reported $737 million in net sales, up from $641 million the previous month.
Money market ETF net sales amounted to $888 million, down from $2.1 billion.