Categories
Statistics as of Nov 01, 2024
| Large Blend | Classification US Equity | 6m Return 12.8% | Total AUM $23T | 6M ASSETS FLOW 0.1% | 6M $ FLOW $25B | 6M $ ETF FLOW $154B | 6M $ FUND FLOW -$129B | positiveLarge Blendpositive Savita Subramanian targets 5000 on the S&P 500 by YE24. She is bullish not because she expects an aggressive Fed easing cycle, but because of what the Fed has accomplished. US corporates have adapted to non-zero hurdle rates, some inflation and a more rational market backdrop. She believes the profits cycle has inflected higher and forecasts EPS of $235 (+6% YoY) in 2024 despite a decelerating GDP growth outlook. Historically, accelerating EPS and decelerating GDP has been the best environment for stocks. Election years have been positive for equities and bipartisan support for defense spending as well as near-shoring / US manufacturing and jobs are pro-cyclical. She is overweight Energy, Consumer Discretionary, Financials and Real Estate, and are underweight Tech, Consumer Staples, and Health Care. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Large Growth | Classification US Equity | 6m Return 15.0% | Total AUM $16T | 6M ASSETS FLOW -2.3% | 6M $ FLOW -$360B | 6M $ ETF FLOW $40B | 6M $ FUND FLOW -$400B | ||
| Large Value | Classification US Equity | 6m Return 10.2% | Total AUM $8T | 6M ASSETS FLOW -2.2% | 6M $ FLOW -$163B | 6M $ ETF FLOW $17B | 6M $ FUND FLOW -$181B | ||
| Mid-Cap Blend | Classification US Equity | 6m Return 10.1% | Total AUM $1T | 6M ASSETS FLOW -0.7% | 6M $ FLOW -$8B | 6M $ ETF FLOW $5B | 6M $ FUND FLOW -$13B | ||
| Mid-Cap Growth | Classification US Equity | 6m Return 10.3% | Total AUM $2T | 6M ASSETS FLOW -4.1% | 6M $ FLOW -$71B | 6M $ ETF FLOW -$1B | 6M $ FUND FLOW -$69B | ||
| Mid-Cap Value | Classification US Equity | 6m Return 9.0% | Total AUM $1T | 6M ASSETS FLOW -4.8% | 6M $ FLOW -$66B | 6M $ ETF FLOW $569M | 6M $ FUND FLOW -$67B | ||
| Small Blend | Classification US Equity | 6m Return 10.0% | Total AUM $1T | 6M ASSETS FLOW 0.2% | 6M $ FLOW $3B | 6M $ ETF FLOW $9B | 6M $ FUND FLOW -$7B | ||
| Small Growth | Classification US Equity | 6m Return 11.1% | Total AUM $961B | 6M ASSETS FLOW -3.6% | 6M $ FLOW -$35B | 6M $ ETF FLOW $972M | 6M $ FUND FLOW -$36B | ||
| Small Value | Classification US Equity | 6m Return 8.0% | Total AUM $778B | 6M ASSETS FLOW -3.2% | 6M $ FLOW -$25B | 6M $ ETF FLOW $4B | 6M $ FUND FLOW -$29B | ||
| Foreign Large Blend | Classification International Equity | 6m Return 5.4% | Total AUM $4T | 6M ASSETS FLOW 1.0% | 6M $ FLOW $41B | 6M $ ETF FLOW $18B | 6M $ FUND FLOW $23B | ||
| Foreign Large Growth | Classification International Equity | 6m Return 5.9% | Total AUM $4T | 6M ASSETS FLOW -2.8% | 6M $ FLOW -$119B | 6M $ ETF FLOW $4B | 6M $ FUND FLOW -$123B | ||
| Foreign Large Value | Classification International Equity | 6m Return 5.1% | Total AUM $770B | 6M ASSETS FLOW -2.3% | 6M $ FLOW -$18B | 6M $ ETF FLOW $3B | 6M $ FUND FLOW -$20B | ||
| Foreign Small/Mid Blend | Classification International Equity | 6m Return 5.1% | Total AUM $153B | 6M ASSETS FLOW -1.3% | 6M $ FLOW -$2B | 6M $ ETF FLOW -$573M | 6M $ FUND FLOW -$1B | ||
| Foreign Small/Mid Growth | Classification International Equity | 6m Return 5.2% | Total AUM $158B | 6M ASSETS FLOW -8.8% | 6M $ FLOW -$14B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$14B | ||
| Foreign Small/Mid Value | Classification International Equity | 6m Return 4.8% | Total AUM $52B | 6M ASSETS FLOW -1.0% | 6M $ FLOW -$503M | 6M $ ETF FLOW $287M | 6M $ FUND FLOW -$790M | ||
| Diversified Emerging Mkts | Classification International Equity | 6m Return 7.2% | Total AUM $3T | 6M ASSETS FLOW 0.4% | 6M $ FLOW $11B | 6M $ ETF FLOW $3B | 6M $ FUND FLOW $8B | ||
| Diversified Pacific/Asia | Classification International Equity | 6m Return 10.0% | Total AUM $33B | 6M ASSETS FLOW -2.5% | 6M $ FLOW -$805M | 6M $ ETF FLOW -$133M | 6M $ FUND FLOW -$673M | ||
| Pacific/Asia ex-Japan Stk | Classification International Equity | 6m Return 11.9% | Total AUM $26B | 6M ASSETS FLOW -10.0% | 6M $ FLOW -$3B | 6M $ ETF FLOW -$1B | 6M $ FUND FLOW -$1B | ||
| World Large-Stock Blend | Classification International Equity | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| World Small/Mid Stock | Classification International Equity | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Europe Stock | Classification International Equity | 6m Return 3.6% | Total AUM $162B | 6M ASSETS FLOW -4.3% | 6M $ FLOW -$7B | 6M $ ETF FLOW -$3B | 6M $ FUND FLOW -$4B | negativeEurope Stocknegative Sebastian Raedler expects a slowdown in global growth momentum driven by tightening credit conditions, fading US fiscal support and depleting order backlogs. This is set to translate into widening risk premia and downgrades to EPS expectations, with the resulting drag on equities only mildly offset by falling real bond yields (i.e. a lower discount rate for equities) on the back of dovish central banks. Our macro projections imply around 20% downside for the Stoxx 600 to 390 by the middle of the year, followed by a rebound to 420 by the end of the year, as improving growth momentum and a continued fade in real rates lead to renewed multiple expansion. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Japan Stock | Classification International Equity | 6m Return 2.7% | Total AUM $43B | 6M ASSETS FLOW -7.6% | 6M $ FLOW -$3B | 6M $ ETF FLOW -$3B | 6M $ FUND FLOW -$268M | positiveJapan Stockpositive Masashi Akutsu expects TOPIX to reach 2,650 by the end of 2024. Sustained inflation, continued corporate reforms and relatively low valuation should provide tailwinds to the market. He notes when the market loses momentum in the second year of an EPS recovery, low beta and alpha earnings tend to outperform due to stock selection of individual names Source: BoA Merril RIC Report Jan 09, 2024. | |
| India Equity | Classification International Equity | 6m Return 8.7% | Total AUM $26B | 6M ASSETS FLOW 8.2% | 6M $ FLOW $2B | 6M $ ETF FLOW $2B | 6M $ FUND FLOW $57M | ||
| China Region | Classification International Equity | 6m Return 11.2% | Total AUM $47B | 6M ASSETS FLOW 19.2% | 6M $ FLOW $9B | 6M $ ETF FLOW $9B | 6M $ FUND FLOW -$345M | ||
| Latin America Stock | Classification International Equity | 6m Return -9.5% | Total AUM $7B | 6M ASSETS FLOW -17.1% | 6M $ FLOW -$1B | 6M $ ETF FLOW -$940M | 6M $ FUND FLOW -$331M | ||
| Miscellaneous Region | Classification International Equity | 6m Return - | Total AUM $48B | 6M ASSETS FLOW -5.0% | 6M $ FLOW -$2B | 6M $ ETF FLOW -$2B | 6M $ FUND FLOW -$305M | ||
| World Large-Stock Growth | Classification International Equity | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Global Large-Stock Blend | Classification Money Market | 6m Return 9.7% | Total AUM $3T | 6M ASSETS FLOW -1.0% | 6M $ FLOW -$31B | 6M $ ETF FLOW $5B | 6M $ FUND FLOW -$36B | ||
| World Large-Stock Value | Classification International Equity | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Global Large-Stock Growth | Classification Commodities | 6m Return 9.9% | Total AUM $4T | 6M ASSETS FLOW -1.0% | 6M $ FLOW -$40B | 6M $ ETF FLOW $1B | 6M $ FUND FLOW -$41B | ||
| Global Large-Stock Value | Classification International Equity | 6m Return 7.7% | Total AUM $181B | 6M ASSETS FLOW -4.8% | 6M $ FLOW -$9B | 6M $ ETF FLOW $37M | 6M $ FUND FLOW -$9B | ||
| Global Small/Mid Stock | Classification Municipal Bond | 6m Return 6.6% | Total AUM $1T | 6M ASSETS FLOW 0.3% | 6M $ FLOW $4B | 6M $ ETF FLOW -$51M | 6M $ FUND FLOW $4B | ||
| Consumer Cyclical | Classification Sector Equity | 6m Return 9.6% | Total AUM $51B | 6M ASSETS FLOW -4.6% | 6M $ FLOW -$2B | 6M $ ETF FLOW -$2B | 6M $ FUND FLOW -$783M | positiveConsumer Cyclicalpositive Housing (leading indicator) benefits from structural shortages long-only fund and hedge fund positioning near historical lows. Real wage growth now positive, #3 in Quant model, Recovery regime beneficiary. Secular shift into e-commerce / EVs (AMZN + TSLA: ~50% of the sector). Consumer still resilient - 85% of US mortgages are fixed. Fed is done hiking. Risk if job losses extend beyond Silicon Valley/Wall Street. Long duration (AMZN + TSLA represent 50% of the sector), AMZN = COVID demand pull forward Expensive (but in line ex. TSLA/AMZN) Continued Fed hiking. Temu. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Consumer Defensive | Classification Sector Equity | 6m Return 4.6% | Total AUM $43B | 6M ASSETS FLOW 1.2% | 6M $ FLOW $503M | 6M $ ETF FLOW $1B | 6M $ FUND FLOW -$557M | positiveConsumer Defensivepositive No matter what, we still have to eat - defensive hedge. Benefits from consumers trading down. Weakening USD. Elevated positioning: funds have been preparing for recession but soft landing more likely. Typically underperforms in Recovery regime. Ranks poorly in Quant model; lower quality vs. history. Citing deflation trends. GLP-1 = thematic overhang. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Communications | Classification Sector Equity | 6m Return 19.2% | Total AUM $61B | 6M ASSETS FLOW -5.0% | 6M $ FLOW -$3B | 6M $ ETF FLOW -$2B | 6M $ FUND FLOW -$1B | neutralCommunicationsneutral #2 in our tactical quant model. Big buybacks and cash returns mean duration risk shortening. Valuations reasonable. Positioning risk rising after strong YTD performance. Headline risk in 2024 regulatory, anti-monopolistic. Too big to grow. Corp ad spend slowdown potential. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Technology | Classification Sector Equity | 6m Return 13.0% | Total AUM $834B | 6M ASSETS FLOW 0.3% | 6M $ FLOW $3B | 6M $ ETF FLOW $8B | 6M $ FUND FLOW -$6B | positiveTechnologypositive Secular themes (AI, cloud, telecommuting, robotics, etc.) and onshoring automation & capex. Long-only positioning risk has largely subsided. Clean balance sheets, strong margins, and improving earnings trends AI arms race. Peak globalization (most multinational sector). COVID demand pull-forward was just as extreme as into Y2K. Regulatory / anti-monopolistic overhang. Expensive, Mag 7 crowding risk. Destocking risk evident for semis, tech hardware & autos. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Financial | Classification Sector Equity | 6m Return 16.6% | Total AUM $110B | 6M ASSETS FLOW 2.4% | 6M $ FLOW $3B | 6M $ ETF FLOW $3B | 6M $ FUND FLOW -$325M | positiveFinancialpositive Contagion risk largely mitigated - Regional Banks = 2.5% of the sector. High quality and low leverage. Mispriced risk: Lower EPS vol than S&P 500 but high price beta. Higher interest rates vs. prior cycle. 100% hit rate in Recovery regimes; historically inexpensive. Rising deposit costs & increased regulatory risk after bank. fallouts. Commercial Real Estate (23% of total loans). Source: BoA Merril RIC Report Jan 09, 2024. | |
| Health | Classification Sector Equity | 6m Return 6.9% | Total AUM $444B | 6M ASSETS FLOW -4.3% | 6M $ FLOW -$19B | 6M $ ETF FLOW -$3B | 6M $ FUND FLOW -$16B | positiveHealthpositive Defensive sector offering secular growth. Baby boomer spend beneficiary. Select stocks can benefit from AI. Crowded (overweight by both long-only funds and hedge funds) after a year of preparing for a recession. Government sales exposure ahead of fiscal cuts, overhang from drug pricing pressure. Labor tightness not likely to be automated or AI’d away. Floating rate risk ... Higher refinancing dollar risks than other sectors. Election year - drug price regulations likely to hit headlines. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Industrials | Classification Sector Equity | 6m Return 11.2% | Total AUM $63B | 6M ASSETS FLOW 0.0% | 6M $ FLOW $15M | 6M $ ETF FLOW $418M | 6M $ FUND FLOW -$403M | neutralIndustrialsneutral Capex, automation, re-shoring beneficiary. Half cyclical, half Quality. Fiscal stimulus (bipartisan infrastructure bill = 11% of nonresidential construction spend). Industrials is crowded (only cyclical sector overweight by both long-only and hedge funds). Rising earnings volatility amid de-globalization / loss of diversification. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Infrastructure | Classification Sector Equity | 6m Return 11.2% | Total AUM $65B | 6M ASSETS FLOW -3.1% | 6M $ FLOW -$2B | 6M $ ETF FLOW $2B | 6M $ FUND FLOW -$4B | ||
| Utilities | Classification Sector Equity | 6m Return 16.4% | Total AUM $133B | 6M ASSETS FLOW 1.8% | 6M $ FLOW $2B | 6M $ ETF FLOW $4B | 6M $ FUND FLOW -$2B | neutralUtilitiesneutral Stable fundamentals / defensive hedge / Quality. IRA / energy transition beneficiary. Disinflation and lower rates. Positioning risk: HFs are overweight, long only positioning near decade highs. Dividend yield vs. 10-yr yield below post-GFC avg. Underperforms in Recovery regimes with a 100% hit rate. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Real Estate | Classification Sector Equity | 6m Return 18.2% | Total AUM $468B | 6M ASSETS FLOW -1.1% | 6M $ FLOW -$5B | 6M $ ETF FLOW $1B | 6M $ FUND FLOW -$7B | positiveReal Estatepositive Dividend yield (~50% of stocks yielding higher than the 10yr). Inexpensive and unloved by long-only funds and hedge funds. Real asset, but also a bond proxy. Commercial real estate risk (but only 14% of sector). Biggest exposure to refinancing risk & most hurt by rising real rates. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Global Real Estate | Classification Sector Equity | 6m Return 12.6% | Total AUM $144B | 6M ASSETS FLOW -8.2% | 6M $ FLOW -$12B | 6M $ ETF FLOW -$158M | 6M $ FUND FLOW -$12B | ||
| Natural Resources | Classification Sector Equity | 6m Return 1.0% | Total AUM $89B | 6M ASSETS FLOW -5.4% | 6M $ FLOW -$5B | 6M $ ETF FLOW -$1B | 6M $ FUND FLOW -$3B | neutralNatural Resourcesneutral Underinvestment in manufacturing, single family, mining over last decade drives higher returns. Continued capex cycle. Attractive FCF/EV. Potential recovery in goods spending (exposed to housing/autos/etc.). Most exposed sector to China (along with Tech). Overweight by hedge funds, long-only positioning is near a 7-yr high. Ranks last in Quant model. Commodity chemicals may be near a bottom but recovery could be slow. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Energy Limited Partnership | Classification Sector Equity | 6m Return 14.7% | Total AUM $104B | 6M ASSETS FLOW -2.3% | 6M $ FLOW -$2B | 6M $ ETF FLOW $731M | 6M $ FUND FLOW -$3B | ||
| Equity Energy | Classification Sector Equity | 6m Return -3.6% | Total AUM $89B | 6M ASSETS FLOW -11.2% | 6M $ FLOW -$10B | 6M $ ETF FLOW -$8B | 6M $ FUND FLOW -$2B | positiveEquity Energypositive We project Brent and WTI to average $90/bbl and $86/bbl, respectively, in 2024 supported by OPEC cuts with soft floor from US SPR, elevated Chinese coal prices. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Equity Precious Metals | Classification Sector Equity | 6m Return 20.8% | Total AUM $79B | 6M ASSETS FLOW -2.6% | 6M $ FLOW -$2B | 6M $ ETF FLOW -$838M | 6M $ FUND FLOW -$1B | ||
| Miscellaneous Sector | Classification Sector Equity | 6m Return - | Total AUM $18B | 6M ASSETS FLOW -2.4% | 6M $ FLOW -$420M | 6M $ ETF FLOW -$334M | 6M $ FUND FLOW -$86M | ||
| Relative Value Arbitrage | Classification Alternative | 6m Return 5.9% | Total AUM $69B | 6M ASSETS FLOW 0.3% | 6M $ FLOW $219M | 6M $ ETF FLOW $6M | 6M $ FUND FLOW $213M | ||
| Long-Short Equity | Classification Alternative | 6m Return 6.8% | Total AUM $67B | 6M ASSETS FLOW -1.3% | 6M $ FLOW -$859M | 6M $ ETF FLOW $491M | 6M $ FUND FLOW -$1B | ||
| Systematic Trend | Classification Alternative | 6m Return -8.4% | Total AUM $66B | 6M ASSETS FLOW -1.4% | 6M $ FLOW -$910M | 6M $ ETF FLOW $406M | 6M $ FUND FLOW -$1B | ||
| Equity Market Neutral | Classification Alternative | 6m Return 3.6% | Total AUM $29B | 6M ASSETS FLOW 4.3% | 6M $ FLOW $1B | 6M $ ETF FLOW $70M | 6M $ FUND FLOW $1B | ||
| Multistrategy | Classification Alternative | 6m Return 1.1% | Total AUM $126B | 6M ASSETS FLOW 2.6% | 6M $ FLOW $3B | 6M $ ETF FLOW $64M | 6M $ FUND FLOW $3B | ||
| Multialternative | Classification Alternative | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Multicurrency | Classification Alternative | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Options Trading | Classification Alternative | 6m Return 7.4% | Total AUM $264B | 6M ASSETS FLOW 3.0% | 6M $ FLOW $8B | 6M $ ETF FLOW $7B | 6M $ FUND FLOW $484M | ||
| Options-based | Classification Alternative | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Derivative Income | Classification Alternative | 6m Return 10.1% | Total AUM $158B | 6M ASSETS FLOW 3.9% | 6M $ FLOW $6B | 6M $ ETF FLOW $9B | 6M $ FUND FLOW -$2B | ||
| Single Currency | Classification Alternative | 6m Return - | Total AUM $943M | 6M ASSETS FLOW 3.5% | 6M $ FLOW $33M | 6M $ ETF FLOW $33M | 6M $ FUND FLOW 0 | ||
| Bear Market | Classification Alternative | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Volatility | Classification Alternative | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Trading--Inverse Commodities | Classification Alternative | 6m Return - | Total AUM $326M | 6M ASSETS FLOW -57.9% | 6M $ FLOW -$189M | 6M $ ETF FLOW -$181M | 6M $ FUND FLOW -$8M | ||
| Trading--Inverse Debt | Classification Alternative | 6m Return - | Total AUM $838M | 6M ASSETS FLOW -27.6% | 6M $ FLOW -$231M | 6M $ ETF FLOW -$185M | 6M $ FUND FLOW -$46M | ||
| Trading--Inverse Equity | Classification Alternative | 6m Return - | Total AUM $12B | 6M ASSETS FLOW 16.3% | 6M $ FLOW $2B | 6M $ ETF FLOW $2B | 6M $ FUND FLOW -$303M | ||
| Trading--Leveraged Commodities | Classification Alternative | 6m Return - | Total AUM $3B | 6M ASSETS FLOW 18.9% | 6M $ FLOW $531M | 6M $ ETF FLOW $531M | 6M $ FUND FLOW 0 | ||
| Trading--Leveraged Debt | Classification Alternative | 6m Return - | Total AUM $6B | 6M ASSETS FLOW 23.8% | 6M $ FLOW $1B | 6M $ ETF FLOW $1B | 6M $ FUND FLOW $49M | ||
| Trading--Leveraged Equity | Classification Alternative | 6m Return - | Total AUM $109B | 6M ASSETS FLOW -0.6% | 6M $ FLOW -$680M | 6M $ ETF FLOW -$248M | 6M $ FUND FLOW -$432M | ||
| Leveraged Net Long | Classification Alternative | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Trading--Miscellaneous | Classification Alternative | 6m Return - | Total AUM $2B | 6M ASSETS FLOW -10.7% | 6M $ FLOW -$265M | 6M $ ETF FLOW -$260M | 6M $ FUND FLOW -$5M | ||
| Event Driven | Classification Alternative | 6m Return 3.6% | Total AUM $33B | 6M ASSETS FLOW -12.0% | 6M $ FLOW -$4B | 6M $ ETF FLOW -$84M | 6M $ FUND FLOW -$4B | ||
| Macro Trading | Classification Alternative | 6m Return 0.0% | Total AUM $59B | 6M ASSETS FLOW 12.1% | 6M $ FLOW $7B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW $7B | ||
| Digital Assets | Classification US Equity | 6m Return 8.6% | Total AUM $84B | 6M ASSETS FLOW 11.5% | 6M $ FLOW $10B | 6M $ ETF FLOW $10B | 6M $ FUND FLOW $47M | ||
| Commodities Agriculture | Classification Commodities | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Commodities Broad Basket | Classification Commodities | 6m Return -0.1% | Total AUM $114B | 6M ASSETS FLOW -7.6% | 6M $ FLOW -$9B | 6M $ ETF FLOW -$406M | 6M $ FUND FLOW -$8B | ||
| Commodities Energy | Classification Commodities | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Commodities Industrial Metals | Classification Commodities | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | neutralCommodities Industrial Metalsneutral Michael Widmer notes that metal markets have remained tight. Copper has held up in 2023, carried by China's investment in renewables, which we believe to remain supportive also this year. As China's traditional economy accelerates and the US/Europe also bottom out, copper should rally in 2024. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Commodities Focused | Classification Commodities | 6m Return 4.5% | Total AUM $156B | 6M ASSETS FLOW 5.0% | 6M $ FLOW $8B | 6M $ ETF FLOW $8B | 6M $ FUND FLOW $9M | ||
| Long-Term Bond | Classification Taxable Bond | 6m Return 5.4% | Total AUM $133B | 6M ASSETS FLOW 12.7% | 6M $ FLOW $17B | 6M $ ETF FLOW $6B | 6M $ FUND FLOW $11B | ||
| Intermediate Core Bond | Classification Taxable Bond | 6m Return 4.4% | Total AUM $5T | 6M ASSETS FLOW 3.2% | 6M $ FLOW $157B | 6M $ ETF FLOW $28B | 6M $ FUND FLOW $129B | ||
| Intermediate-Term Bond | Classification Taxable Bond | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | neutralIntermediate-Term Bondneutral We look for 2024 to be the year when US IG non-financial, mostly single-A or better issuers gradually begin to add leverage. That will end the 2022 - 2023 deleveraging cycle and high-quality issuer outperformance. Reasons for adding debt in 2024 include: 1) less need to improve balance sheets as recession fears fade, 2) slower economic growth encourages the use of leverage to improve EPS, 3) lower borrowing costs as the Fed cuts rates make debt cheaper. As a result, we continue to prefer BBB-rated industrials, which also still trade relatively cheap, although the gap is shrinking. We also screen for potential re-leveraging candidates inside. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Intermediate Core-Plus Bond | Classification Taxable Bond | 6m Return 4.7% | Total AUM $4T | 6M ASSETS FLOW -0.4% | 6M $ FLOW -$14B | 6M $ ETF FLOW $17B | 6M $ FUND FLOW -$31B | ||
| Short-Term Bond | Classification Taxable Bond | 6m Return 3.8% | Total AUM $3T | 6M ASSETS FLOW -0.5% | 6M $ FLOW -$14B | 6M $ ETF FLOW $2B | 6M $ FUND FLOW -$16B | ||
| Ultrashort Bond | Classification Taxable Bond | 6m Return 3.1% | Total AUM $725B | 6M ASSETS FLOW 3.7% | 6M $ FLOW $26B | 6M $ ETF FLOW $20B | 6M $ FUND FLOW $6B | ||
| Corporate Bond | Classification Taxable Bond | 6m Return 5.0% | Total AUM $599B | 6M ASSETS FLOW 4.0% | 6M $ FLOW $24B | 6M $ ETF FLOW $7B | 6M $ FUND FLOW $17B | ||
| Target Maturity | Classification Taxable Bond | 6m Return 4.0% | Total AUM $47B | 6M ASSETS FLOW 8.7% | 6M $ FLOW $4B | 6M $ ETF FLOW $4B | 6M $ FUND FLOW -$4M | ||
| Bank Loan | Classification Taxable Bond | 6m Return 4.1% | Total AUM $455B | 6M ASSETS FLOW -3.6% | 6M $ FLOW -$16B | 6M $ ETF FLOW $2B | 6M $ FUND FLOW -$19B | ||
| World Bond | Classification Taxable Bond | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| World Bond-USD Hedged | Classification Taxable Bond | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Emerging Markets Bond | Classification Taxable Bond | 6m Return 6.1% | Total AUM $284B | 6M ASSETS FLOW 5.5% | 6M $ FLOW $16B | 6M $ ETF FLOW $247M | 6M $ FUND FLOW $15B | neutralEmerging Markets Bondneutral Sovereign: Neutral. EM sovereigns returns should come mostly from yield, given that spreads and UST yields are already near our year-end 2024 targets. The high duration of the sovereign bonds provides some protection in case of a hard landing scenario, as decline in UST yields could offset spread widening. Corp: Neutral positioning on valuation following the Nov/Dec rally. Expect moderate to low returns driven by carry, possible mild spread expansion from current levels. EM elections and issuance key themes going into the next year. Source: BoA Merril RIC Report Jan 09, 2024. | |
| Emerging-Markets Local-Currency Bond | Classification Taxable Bond | 6m Return 3.0% | Total AUM $25B | 6M ASSETS FLOW -3.8% | 6M $ FLOW -$950M | 6M $ ETF FLOW -$229M | 6M $ FUND FLOW -$721M | ||
| Long Government | Classification Taxable Bond | 6m Return 4.7% | Total AUM $229B | 6M ASSETS FLOW 10.1% | 6M $ FLOW $23B | 6M $ ETF FLOW $20B | 6M $ FUND FLOW $3B | ||
| Intermediate Government | Classification Taxable Bond | 6m Return 4.2% | Total AUM $1T | 6M ASSETS FLOW 1.9% | 6M $ FLOW $21B | 6M $ ETF FLOW $15B | 6M $ FUND FLOW $6B | ||
| Short Government | Classification Taxable Bond | 6m Return 3.2% | Total AUM $158B | 6M ASSETS FLOW -3.1% | 6M $ FLOW -$5B | 6M $ ETF FLOW -$638M | 6M $ FUND FLOW -$4B | ||
| Short-Term Inflation-Protected Bond | Classification Taxable Bond | 6m Return 3.5% | Total AUM $137B | 6M ASSETS FLOW -1.4% | 6M $ FLOW -$2B | 6M $ ETF FLOW $362M | 6M $ FUND FLOW -$2B | ||
| Inflation-Protected Bond | Classification Taxable Bond | 6m Return 4.0% | Total AUM $541B | 6M ASSETS FLOW -2.7% | 6M $ FLOW -$14B | 6M $ ETF FLOW -$2B | 6M $ FUND FLOW -$13B | ||
| High Yield Bond | Classification Taxable Bond | 6m Return 5.9% | Total AUM $2T | 6M ASSETS FLOW 5.0% | 6M $ FLOW $87B | 6M $ ETF FLOW $10B | 6M $ FUND FLOW $76B | ||
| Preferred Stock | Classification Taxable Bond | 6m Return 8.1% | Total AUM $187B | 6M ASSETS FLOW -0.3% | 6M $ FLOW -$509M | 6M $ ETF FLOW $816M | 6M $ FUND FLOW -$1B | ||
| Convertibles | Classification Allocation | 6m Return 8.7% | Total AUM $68B | 6M ASSETS FLOW -6.2% | 6M $ FLOW -$4B | 6M $ ETF FLOW $232M | 6M $ FUND FLOW -$4B | ||
| Nontraditional Bond | Classification Taxable Bond | 6m Return 3.9% | Total AUM $609B | 6M ASSETS FLOW 2.9% | 6M $ FLOW $18B | 6M $ ETF FLOW $811M | 6M $ FUND FLOW $17B | ||
| Multisector Bond | Classification Taxable Bond | 6m Return 5.1% | Total AUM $2T | 6M ASSETS FLOW 5.4% | 6M $ FLOW $128B | 6M $ ETF FLOW $6B | 6M $ FUND FLOW $122B | ||
| Miscellaneous Fixed Income | Classification Taxable Bond | 6m Return - | Total AUM $39B | 6M ASSETS FLOW 3.4% | 6M $ FLOW $1B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW $1B | ||
| Global Bond-USD Hedged | Classification Taxable Bond | 6m Return 4.1% | Total AUM $776B | 6M ASSETS FLOW 4.9% | 6M $ FLOW $38B | 6M $ ETF FLOW $8B | 6M $ FUND FLOW $30B | ||
| Equity Hedged | Classification Taxable Bond | 6m Return 8.2% | Total AUM $466M | 6M ASSETS FLOW -6.3% | 6M $ FLOW -$29M | 6M $ ETF FLOW -$29M | 6M $ FUND FLOW 0 | ||
| Global Bond | Classification Sector Equity | 6m Return 4.0% | Total AUM $346B | 6M ASSETS FLOW 0.3% | 6M $ FLOW $908M | 6M $ ETF FLOW $80M | 6M $ FUND FLOW $829M | ||
| High Yield Muni | Classification Municipal Bond | 6m Return 4.4% | Total AUM $574B | 6M ASSETS FLOW 5.3% | 6M $ FLOW $31B | 6M $ ETF FLOW $516M | 6M $ FUND FLOW $30B | ||
| Muni National Long | Classification Municipal Bond | 6m Return 3.3% | Total AUM $529B | 6M ASSETS FLOW 2.7% | 6M $ FLOW $14B | 6M $ ETF FLOW $273M | 6M $ FUND FLOW $14B | ||
| Muni National Interm | Classification Municipal Bond | 6m Return 2.4% | Total AUM $908B | 6M ASSETS FLOW 3.9% | 6M $ FLOW $36B | 6M $ ETF FLOW $8B | 6M $ FUND FLOW $28B | ||
| Muni National Short | Classification Municipal Bond | 6m Return 2.2% | Total AUM $388B | 6M ASSETS FLOW -2.2% | 6M $ FLOW -$9B | 6M $ ETF FLOW $731M | 6M $ FUND FLOW -$9B | ||
| Muni California Long | Classification Municipal Bond | 6m Return 3.1% | Total AUM $183B | 6M ASSETS FLOW 2.0% | 6M $ FLOW $4B | 6M $ ETF FLOW $170M | 6M $ FUND FLOW $4B | ||
| Muni California Intermediate | Classification Municipal Bond | 6m Return 2.2% | Total AUM $79B | 6M ASSETS FLOW 2.4% | 6M $ FLOW $2B | 6M $ ETF FLOW $486M | 6M $ FUND FLOW $1B | ||
| Muni New York Long | Classification Municipal Bond | 6m Return 2.9% | Total AUM $85B | 6M ASSETS FLOW 0.7% | 6M $ FLOW $610M | 6M $ ETF FLOW $107M | 6M $ FUND FLOW $502M | ||
| Muni New York Intermediate | Classification Municipal Bond | 6m Return 2.0% | Total AUM $14B | 6M ASSETS FLOW 2.8% | 6M $ FLOW $392M | 6M $ ETF FLOW 0 | 6M $ FUND FLOW $392M | ||
| Muni New Jersey | Classification Municipal Bond | 6m Return 2.7% | Total AUM $18B | 6M ASSETS FLOW 0.1% | 6M $ FLOW $25M | 6M $ ETF FLOW 0 | 6M $ FUND FLOW $25M | ||
| Muni Massachusetts | Classification Municipal Bond | 6m Return 2.3% | Total AUM $13B | 6M ASSETS FLOW -0.6% | 6M $ FLOW -$83M | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$83M | ||
| Muni Pennsylvania | Classification Municipal Bond | 6m Return 2.9% | Total AUM $22B | 6M ASSETS FLOW -1.6% | 6M $ FLOW -$347M | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$347M | ||
| Muni Minnesota | Classification Municipal Bond | 6m Return 2.8% | Total AUM $15B | 6M ASSETS FLOW -0.6% | 6M $ FLOW -$96M | 6M $ ETF FLOW $3M | 6M $ FUND FLOW -$99M | ||
| Muni Ohio | Classification Municipal Bond | 6m Return 2.4% | Total AUM $10B | 6M ASSETS FLOW -3.4% | 6M $ FLOW -$338M | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$338M | ||
| Muni Single State Long | Classification Municipal Bond | 6m Return 2.7% | Total AUM $59B | 6M ASSETS FLOW -0.8% | 6M $ FLOW -$495M | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$495M | ||
| Muni Single State Interm | Classification Municipal Bond | 6m Return 1.9% | Total AUM $20B | 6M ASSETS FLOW -4.6% | 6M $ FLOW -$936M | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$936M | ||
| Muni Target Maturity | Classification Municipal Bond | 6m Return 2.0% | Total AUM $4B | 6M ASSETS FLOW 6.4% | 6M $ FLOW $248M | 6M $ ETF FLOW $252M | 6M $ FUND FLOW -$4M | ||
| Muni Single State Short | Classification Municipal Bond | 6m Return 2.0% | Total AUM $23B | 6M ASSETS FLOW -2.1% | 6M $ FLOW -$476M | 6M $ ETF FLOW $15M | 6M $ FUND FLOW -$491M | ||
| Money Market-Taxable | Classification Money Market | 6m Return 2.5% | Total AUM $36T | 6M ASSETS FLOW 9.3% | 6M $ FLOW $3T | 6M $ ETF FLOW 0 | 6M $ FUND FLOW $3T | ||
| Money Market-Tax-Free | Classification Money Market | 6m Return 1.5% | Total AUM $535B | 6M ASSETS FLOW 4.2% | 6M $ FLOW $22B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW $22B | ||
| Prime Money Market | Classification Money Market | 6m Return 2.5% | Total AUM $5T | 6M ASSETS FLOW 5.5% | 6M $ FLOW $248B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW $248B | ||
| Stable Value | Classification Money Market | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Money Market-Non-40 Act | Classification Money Market | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| World Allocation | Classification Allocation | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Allocation--85%+ Equity | Classification Allocation | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Allocation--70% to 85% Equity | Classification Allocation | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Allocation--50% to 70% Equity | Classification Allocation | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Allocation--30% to 50% Equity | Classification Allocation | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Allocation--15% to 30% Equity | Classification Allocation | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - | ||
| Target-Date Retirement | Classification Allocation | 6m Return 6.3% | Total AUM $155B | 6M ASSETS FLOW -3.5% | 6M $ FLOW -$5B | 6M $ ETF FLOW $2M | 6M $ FUND FLOW -$6B | ||
| Target-Date 2065+ | Classification Alternative | 6m Return 10.5% | Total AUM $89B | 6M ASSETS FLOW 16.9% | 6M $ FLOW $15B | 6M $ ETF FLOW $2M | 6M $ FUND FLOW $15B | ||
| Target-Date 2060 | Classification Allocation | 6m Return 10.4% | Total AUM $355B | 6M ASSETS FLOW 6.6% | 6M $ FLOW $23B | 6M $ ETF FLOW $3M | 6M $ FUND FLOW $23B | ||
| Target-Date 2055 | Classification Allocation | 6m Return 10.4% | Total AUM $620B | 6M ASSETS FLOW 3.6% | 6M $ FLOW $22B | 6M $ ETF FLOW $5M | 6M $ FUND FLOW $22B | ||
| Target-Date 2050 | Classification Allocation | 6m Return 10.2% | Total AUM $924B | 6M ASSETS FLOW 1.9% | 6M $ FLOW $18B | 6M $ ETF FLOW $8M | 6M $ FUND FLOW $18B | ||
| Target-Date 2045 | Classification Allocation | 6m Return 10.0% | Total AUM $1T | 6M ASSETS FLOW 1.6% | 6M $ FLOW $16B | 6M $ ETF FLOW $6M | 6M $ FUND FLOW $16B | ||
| Target-Date 2040 | Classification Allocation | 6m Return 9.4% | Total AUM $1T | 6M ASSETS FLOW 0.4% | 6M $ FLOW $5B | 6M $ ETF FLOW $9M | 6M $ FUND FLOW $5B | ||
| Target-Date 2035 | Classification Allocation | 6m Return 8.8% | Total AUM $1T | 6M ASSETS FLOW 0.6% | 6M $ FLOW $8B | 6M $ ETF FLOW $9M | 6M $ FUND FLOW $8B | ||
| Target-Date 2030 | Classification Allocation | 6m Return 8.0% | Total AUM $1T | 6M ASSETS FLOW -1.4% | 6M $ FLOW -$19B | 6M $ ETF FLOW $3M | 6M $ FUND FLOW -$19B | ||
| Target-Date 2025 | Classification Allocation | 6m Return 7.4% | Total AUM $889B | 6M ASSETS FLOW -4.8% | 6M $ FLOW -$42B | 6M $ ETF FLOW $2M | 6M $ FUND FLOW -$42B | ||
| Target-Date 2020 | Classification Allocation | 6m Return 7.0% | Total AUM $459B | 6M ASSETS FLOW -7.1% | 6M $ FLOW -$32B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$32B | ||
| Target-Date 2015 | Classification Allocation | 6m Return 6.6% | Total AUM $132B | 6M ASSETS FLOW -5.8% | 6M $ FLOW -$8B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$8B | ||
| Target-Date 2000-2010 | Classification Allocation | 6m Return 6.2% | Total AUM $94B | 6M ASSETS FLOW -4.8% | 6M $ FLOW -$5B | 6M $ ETF FLOW 0 | 6M $ FUND FLOW -$5B | ||
| Tactical Allocation | Classification Allocation | 6m Return 6.9% | Total AUM $192B | 6M ASSETS FLOW -8.9% | 6M $ FLOW -$17B | 6M $ ETF FLOW -$57M | 6M $ FUND FLOW -$17B | ||
| Conservative Allocation | Classification Allocation | 6m Return 5.5% | Total AUM $105B | 6M ASSETS FLOW -5.9% | 6M $ FLOW -$6B | 6M $ ETF FLOW $13M | 6M $ FUND FLOW -$6B | ||
| Moderately Conservative Allocation | Classification Allocation | 6m Return 7.0% | Total AUM $849B | 6M ASSETS FLOW -3.9% | 6M $ FLOW -$33B | 6M $ ETF FLOW -$79M | 6M $ FUND FLOW -$33B | ||
| Moderate Allocation | Classification Allocation | 6m Return 8.6% | Total AUM $7T | 6M ASSETS FLOW -1.7% | 6M $ FLOW -$127B | 6M $ ETF FLOW $601M | 6M $ FUND FLOW -$128B | ||
| Moderately Aggressive Allocation | Classification Allocation | 6m Return 9.1% | Total AUM $3T | 6M ASSETS FLOW -2.7% | 6M $ FLOW -$92B | 6M $ ETF FLOW -$5M | 6M $ FUND FLOW -$92B | ||
| Aggressive Allocation | Classification Allocation | 6m Return 10.1% | Total AUM $618B | 6M ASSETS FLOW -0.5% | 6M $ FLOW -$3B | 6M $ ETF FLOW $21M | 6M $ FUND FLOW -$3B | ||
| Global Allocation | Classification Allocation | 6m Return 6.8% | Total AUM $3T | 6M ASSETS FLOW -3.6% | 6M $ FLOW -$117B | 6M $ ETF FLOW $148M | 6M $ FUND FLOW -$117B | ||
| World Large Stock | Classification Alternative | 6m Return - | Total AUM - | 6M ASSETS FLOW - | 6M $ FLOW - | 6M $ ETF FLOW - | 6M $ FUND FLOW - |