Lipper’s Q3 2015 U.S. Mutual Funds And Exchange-Traded Products Snapshot
By Tom Roseen Conventional Mutual Funds Summary Global markets took it on the chin over the last three months, with fears of slowing global growth, Federal Reserve tightening measures, slumping commodity prices, and drug-pricing issues sending the major indices down during the quarter more than 10% from their recent market highs. Total net assets (TNA) in the conventional funds business (not including exchange-traded products [ETPs] and variable insurance products [VIPs]) dropped below the $15-trillion mark for the first quarter in six. As a result of large declines in the price of oil and on fears of China’s slowing growth, for Q3 2015 the emerging markets funds macro-group witnessed the largest relative (-17.52%) decline in total assets under management from the prior quarter-end, while the large-cap funds macro-group suffered a decline of $152.3 billion-the largest absolute decline in total assets under management. Investors ducked for cover during the quarter and padded the coffers of money market funds. The fund group witnessed the largest relative (+1.35%) and absolute (+$30.5 billion) increase in TNA for the quarter. Open-End Funds’ (ex-ETPs’) Total Net Assets ($Mil) by Macro-Group, Rolling Quarters Through Q3 2015 (click to enlarge) Source: Thomson Reuters Lipper Exchange-Traded Products Summary On fears of slowing global growth, Federal Reserve tightening measures, and slumping commodity prices during Q3 2015, TNA in U.S. ETPs (including exchange-traded funds, exchange-traded notes, exchange-traded commodities, limited partnership commodity pools, master limited partnerships, and exchange-traded fund [ETF] unit investment trusts) dropped below the $2.0-trillion mark for the first quarter in four. For Q3 2015 the emerging markets ETPs macro-group witnessed the largest relative (-26.00%) and absolute decline (-$37.0 billion) in TNA from the prior quarter-end. The alternatives ETPs macro-group experienced the largest relative (+26.35%) increase in TNA for Q3, while the Short-/Intermediate-Term Bond ETP macro-group witnessed the largest absolute increase in TNA (+$14.3 billion) for the quarter. (click to enlarge) Source: Thomson Reuters Lipper In the complete issue of Lipper’s Q3 2015 U.S. Mutual Funds and Exchange-Traded Products Snapshot , we feature a summary of total net assets, estimated net flows, and new fund creations for conventional funds and exchange-traded products for Q3 2015, comparing those changes to prior quarters and highlighting the largest individual gainers and losers of both groups. Lipper’s U.S. Mutual Funds and Exchange-Traded Products Snapshot provides readers a powerful, easy-to-use guide and quick reference tool to help them discern fund trends for the quarter.