In this issue of LSEG Lipper’s US Mutual Funds & Exchange-Traded Products Snapshot, we feature a summary of total net assets (TNA) and estimated net flows (ENF) for responsible investments conventional funds and exchange-traded products for March 2025.
Key Highlights & Observations
Fund Market Overall
Total assets under management in the US responsible investments fund market fell $18.6 billion (-4.6%) for March and stood at $390.1 billion at the end of the month. Estimated net outflows accounted for $2.3 billion, while $16.3 billion was removed because of the negatively performing markets. On a year-to-date basis, assets decreased $12.6 billion (-3.1%). Included in the overall year-to-date asset change figure were $1.6 billion of estimated net outflows. Compared to a year ago, assets increased $9.4 billion (+2.5%). Included in the overall one-year asset change figure were $0.8 billion of estimated net outflows. The average overall return in US dollar terms was a negative 2.8% at the end of the reporting month, underperforming the 12-month moving average return by 3.1 percentage points and underperforming the 36-month moving average return by 3.1 percentage points.
Fund Market by Asset Type, March
Most of the net new money for March was attracted by money market funds, accounting for $254.8 million, followed by commodity funds, at $20.5 million of net inflows and alternatives funds, at $4.9 million of net outflows. Equity funds, at negative $2,314.6 million, were at the bottom of the table for March, bettered by bond funds and mixed assets funds, at $194.5 million and $32.2 million of net outflows, respectively. The best performing funds for the month were commodity funds at plus 4.4%, followed by money market funds, with plus 0.3% and bond funds, at minus 0.3% returns, respectively, on average. Equity funds, at negative 3.7%, were the worst performers for the month, bettered by mixed assets funds and alternatives funds, at negative 3.0% and negative 0.4%, respectively.
Fund Market by Asset Type, Year to Date
For the year to date, most of the net new money was attracted by bond funds, accounting for $790.7 million, followed by money market funds and commodity funds, at $455.4 million and $60.8 million of net inflows, respectively. Equity funds, at negative $2,762.3 million, were at the bottom of the table for the year to date, bettered by mixed assets funds and alternatives funds, at $162.8 million of net outflows and $35.9 million of net inflows, respectively. The best performing funds for the year to date were commodity funds at 3.2%, followed by bond funds and alternatives funds, at 1.8% and 1.4% returns, respectively, on average. Equity funds, at negative 2.1%, were the worst performers, bettered by mixed assets funds and money market funds, at negative 0.9% and positive 1.0%, respectively.
Fund Market by Asset Type, Last Year
Most of the net new money for the one-year period was attracted by bond funds, accounting for $3,750.9 million, followed by money market funds and alternatives funds, at $940.2 million and $207.7 million of net inflows, respectively. Equity funds, at negative $5,731.8 million, were at the bottom of the table for the one-year period, bettered by commodity funds and mixed assets funds, at $26.6 million and $36.1 million of net inflows, respectively. All asset types posted positive returns for the one-year period, with commodity funds at 6.5%, followed by alternatives funds and bond funds, at 5.2% and 4.9% returns, respectively, on average. The best performing funds for the one-year period were commodity funds at 6.5%, followed by alternatives funds and bond funds, at 5.2% and 4.9% returns, respectively, on average. Equity funds, at positive 2.0%, outperformed, followed by mixed assets funds and money market funds, at positive 3.7% and positive 4.7%, respectively.
Lipper Fund Classifications, March
Looking at Lipper’s fund classifications for March, most of the net new money flows went into Money Market Funds (+$209.3 million), followed by Large-Cap Growth Funds and Specialty Fixed Income Funds (+$77.7 million and +$63.5 million). The largest net outflows took place for Multi-Cap Core Funds, at negative $529.8 million, bettered by Global Large-Cap Core and Multi-Cap Growth Funds, at negative $393.6 million and negative $295.3 million of net outflows, respectively. The best performing funds for the month were Commodities Base Metals Funds, at plus 16.3%, followed by Commodities Precious Metals Funds and India Region Funds, at plus 9.9% and plus 6.5% returns, respectively, on average. Health/Biotechnology Funds, at minus 17.6%, was the worst performer, bettered by Science & Technology Funds and Large-Cap Growth Funds funds, at minus 11.7% and minus 7.7%, respectively.
Lipper Fund Classifications, Year to Date
For the year to date, most of the net new money flows went into Money Market Funds (+$508.5 million), followed by International Large-Cap Core and Large-Cap Growth Funds (+$477.2 million and +$435.9 million). The largest net outflows took place for Global Large-Cap Core, at negative $909.8 million, bettered by Multi-Cap Growth Funds and Multi-Cap Core Funds, at negative $648.5 million and negative $460.8 million of net outflows, respectively. The best performing funds for the year to date were Commodities Precious Metals Funds, at plus 19.3%, followed by Commodities Base Metals Funds and China Region Funds, at plus 14.6% and plus 10.7% returns, respectively, on average. Health/Biotechnology Funds, at minus 23.4%, was the worst performer, bettered by Science & Technology Funds and Mid-Cap Growth Funds funds, at minus 14.0% and minus 9.5%, respectively.
Lipper Fund Classifications, Last Year
For the one-year period, most of the net new money flows went into Global Large-Cap Core (+$2,565.9 million), followed by Large-Cap Growth Funds and Core Bond Funds (+$2,300.5 million and +$1,878.9 million). The largest net outflows took place for Multi-Cap Growth Funds, at negative $1,993.8 million, bettered by Multi-Cap Core Funds and Alternative Energy Funds, at negative $1,601.2 million and negative $1,600.3 million of net outflows, respectively. The best performing funds for the one-year period were Commodities Precious Metals Funds, at plus 40.5%, followed by Equity Leverage Funds and China Region Funds, at plus 28.1% and plus 27.5% returns, respectively, on average. Health/Biotechnology Funds, at minus 43.3%, was the worst performer, bettered by Alternative Event Driven Funds and Alternative Energy Funds funds, at minus 13.2% and minus 10.9%, respectively.
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