In this issue of Lipper’s U.S. Mutual Funds and Exchange-Traded Products Snapshot, we feature a summary of total net assets, estimated net flows, new fund creations, and fund liquidations for conventional funds and exchange-traded products for Q3 2017, 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.
Total net assets (TNA) in the conventional funds business continued their ascent in Q3, climbing $650.7 billion from Q2 2017 to $17.9 trillion for Q3 as positive economic reports toward September month-end, accompanied by details of the proposed tax reform, pushed markets to new highs. Equity mutual fund investors proved fairly resilient in Q3 2017, discounting the shake-ups in the White House; the increasingly negative rhetoric between North Korea and the United States; and the devastation of Hurricanes Harvey, Irma, and Maria. For Q3 the average equity fund posted a return of 4.64%, with Lipper’s World Equity Funds macro-classification (+6.10%) staying at the top of the four major equity groupings for the third consecutive quarter.
TNAs 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 unit investment trusts) rose 6.45% from $3.0 trillion for Q2 to just a little under $3.2 trillion for Q3. All the major U.S. broad-based indices posted plus-side returns for Q3, with tech-focused indices still leading the pack despite the turbulence witnessed late in the quarter.
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