by Tom Roseen.
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 ETPs for Q4 2017, comparing the changes to those of prior quarters and highlighting the largest individual gainers and losers of both groups. The Snapshot provides readers a powerful, easy-to-use guide and quick-reference tool to help them discern fund trends during the quarter.
Total net assets (TNA) in the conventional funds business continued their ascent in Q4, climbing $688.1 billion from Q3 2017 to $18.7 trillion for Q4 as the reality of the new tax reform package sank in for investors at year-end, accompanied by the Federal Reserve’s interest rate hike in December. For Q4 2017 the average equity fund posted a return of 4.85%, with Lipper’s U.S. Diversified Equity Funds macro-classification (+5.12%) moving to the top of the four major equity groups for the first quarter in four.
TNA 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 8.39% from $3.2 trillion for Q3 to a little over $3.4 trillion for Q4. All the major U.S. broad-based indices posted plus-side returns for Q4, with blue-chip issues leading the pack for the first quarter in seven.
For 2017 actively managed funds attracted $160.0 billion of net inflows, while their passively managed counterparts took in some $705.0 billion.
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