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Leveraged Loan Fund Outflows Expand To $511M, Led By Mutual Funds

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Cash outflows from bank loan funds widened to $511 million for the week ended Dec. 3, from $412 million in the previous week, according to Lipper. The latest reading represents the 21st consecutive weekly withdrawal and the 32nd outflow in the past 34 weeks, for a net redemption of $19.2 billion over that span.

The current reading reflects mutual fund outflows of $507 million, plus a negligible $4 million outflow from exchange-traded funds. The influence of ETFs represents just 1% of the outflow for the week, down from 11% last week.

The trailing four-week average is negative $424 million, compared to negative $375 million last week. This reflects the omission of the $1.66 billion outflow reading from six weeks ago. Recall that was the third-largest outflow on record and the highest since $1.3 billion in the week ended Aug. 31, 2011.

The year-to-date fund-flow reading pushes deeper into negative territory, at roughly $12.1 billion, and it’s mostly mutual funds, with ETFs slightly negative at $110 million for the year. In the comparable year-ago period, inflows totaled $50.6 billion, with 10% tied to ETFs, or roughly $5.3 billion.

The change due to market conditions was negative $128 million, with total assets at $95.1 billion at the end of the observation period. The ETF segment comprises $7.3 billion of the total, or approximately 8%. – Joy Ferguson

Leveraged Loan Fund Outflows Expand To $511M, Led By Mutual Funds

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