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Cash Outflows Return To Leveraged Loan Funds; ETFs Provide YTD Bright Spot


Cash outflows for bank loan funds totaled $440 million for the week ended July 16, marking a return to negative territory after a small inflow of $49 million last week. Mutual funds accounted for the vast majority of the outflow, at $419 million, while exchange-traded funds saw an outflow of just $21 million.

There have now been 12 weeks of outflows over the past 14 weeks, for a combined negative $6 billion over that span, which follows a 95-week inflow streak totaling $66.7 billion.

This week’s outflow amount sits between outflows of $424 million and $457 million for the weeks of June 25 and July 2, respectively.

The trailing four-week average widens to negative $318 million this week from negative $300 million last week, but remains narrower than the negative $618 million seen two weeks ago.

Year-to-date inflows now total just $765 million, of which $762 million, or nearly 100% of the sum, is ETF-related. In the comparable year-ago period, inflows were $30 billion, with just 12% tied to ETFs.

The change due to market conditions was negative $57 million this week compared to total assets of $108.4 billion at the end of the observation period, with ETFs comprising $8.2 billion of the total, or approximately