Morningstar Reports U.S. Mutual Fund Asset Flows Through December 2012

Thu Jan 17, 2013 4:19pm EST

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CHICAGO,  Jan. 17, 2013  /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a
leading provider of independent investment research, today reported estimated
U.S.  mutual fund  asset flows through  December 2012. Long-term open-end funds
saw inflows of  $243.2 billion  in 2012. Money continued to flow out of actively
managed stock funds and into all manner of bond funds, with yields across many
fixed-income sectors either at or near all-time lows. Since the end of 2008,
assets in taxable-bond funds have more than doubled, climbing from  $1.1
trillion to $2.5 trillion, with approximately 65 percent of the increase
attributable to net inflows. When municipal-bond funds are included, inflows for
fixed-income funds have exceeded  $1.0 trillion  since the beginning of 2008.  

Additional highlights from Morningstar's report on mutual fund flows:

* 2012 outflows from actively managed U.S.-stock mutual funds surpassed those
seen in 2008 despite the fact that the S&P 500 was up 16 percent for the year.
Even when exchange-traded funds are included, large-cap U.S.-stock funds have
seen net outflows over the trailing five-year period and in each of the last
four years.  
* Intermediate-term bond funds attracted the greatest inflows of any Morningstar
Category for the fourth year in a row, taking in  $109.9 billion  in 2012. This
was almost three times the inflows of  $37.5 billion  seen by the runner-up,
short-term bond.  
* Vanguard and PIMCO captured 61 percent of net inflows in 2012, compared with
30 percent in 2011 and 46 percent in 2009.  
* DoubleLine Total Return Bond, which has a Morningstar Analyst Rating of
Neutral, tallied 2012 inflows of  $19.6 billion  to edge out Gold-rated PIMCO
Total Return, which collected  $18.0 billion, for the year's greatest open-end
fund inflows. The inclusion of BOND, the ETF incarnation of PIMCO Total Return
that saw inflows of  $3.8 billion  in 2012, would move Bill Gross into first
place in terms of overall inflows.

To view the complete report, please visit To view a video recapping
December's U.S. asset flow trends, please visit For
more information about Morningstar Asset Flows, please visit   

The information contained herein: (1) is proprietary to Morningstar and/or its
content providers; (2) may not be copied or distributed; and (3) is not
warranted to be accurate, complete, or timely. Neither Morningstar nor its
content providers are responsible for any damages or losses arising from any use
of this information. Past performance is no guarantee of future results.

About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in 
North America,  Europe,  Australia, and  Asia. The company offers an extensive
line of products and services for individuals, financial advisors, and
institutions. Morningstar provides data on more than 385,000 investment
offerings, including stocks, mutual funds, and similar vehicles, along with
real-time global market data on more than 8 million equities, indexes, futures,
options, commodities, and precious metals, in addition to foreign exchange and
Treasury markets. Morningstar also offers investment management services through
its registered investment advisor subsidiaries and has approximately  $195
billion  in assets under advisement and management as of  Sept. 30, 2012. The
company has operations in 27 countries.

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Carling Spelhaug, 312-696-6150 or

©2013 Morningstar, Inc. All Rights Reserved.


SOURCE  Morningstar, Inc.

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