For the third straight week, US loan funds experienced losses, with outflows of $770.3 million for the week through Sept. 7, according to Lipper. Over the last three weeks alone, $2.8 billion has exited the asset class.
Mutual fund outflows were $450.1 million, with ETFs losing $320.2 million. Mutual funds have recorded 18 straight weeks of outflows.
The four-week trailing average fell deeper into the red, at negative $679 million, from negative $563 million last week.
The change due to market conditions was a loss of $310.2 million, versus a gain of $106.7 million last week.
Year-to-date, net inflows fell to $5.5 billion, from $6.3 billion last week. Total assets at US loan funds stand at roughly $89.3 billion, of which $17.2 billion are in ETFs, or roughly 20% of the total.
This article originally appeared on PitchBook News