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Q2 2018 Traditional Asset Flows Report
2Q 2018 Redemptions from Active U.S. Equity Strategies Abate Compared to Prior Quarters
Long-only asset managers reported institutional assets under management of $26.8 trillion to eVestment at the end of Q2 2018, according to the 2Q 2018 eVestment Traditional Asset Flows Report. Net institutional investor flows measured -$177.4 billion in the second quarter of 2018 ending a five-quarter streak of net allocations. Cumulative institutional flows over the past year ending 2Q ’18 totaled -$15.2 billion.
Highlights from this report include:
- Globally, equity strategies registered net institutional outflows of -$138.8 billion with active managers accounting for -$94.8 billion and passive strategies -$43.9 billion. On a geographic basis, U.S. equity managers saw net redemptions of -$64.8 billion and non-U.S. managers -$74.0 billion.
- Fixed income managers, excluding cash management strategies, saw aggregate redemptions of -$17.8 billion in Q2 2018. The quarter marked a reversal from the preceding two-year period which saw institutional inflows totaling +$767.7 billion for a quarterly run rate of +$96.0 billion.
- U.S. domiciled investors were net detractors from most major universes in Q2 2018. The largest dollar outflows were from U.S. equity (-$75.2 billion), U.S. fixed income (-$16.0 billion) and global multi-asset strategies (-$6.0 billion). U.S. investors did provide net inflows, albeit on a small scale, to a wide array of non-U.S. fixed income strategies including global, Europe, Japan, Asia-Pacific and Canada managers.