US investors pulled $23 billion (€19.5 billion) out of active US equity funds in August, Morningstar reported earlier this week.
However, the investors also put $8.5 billion into US equity passive funds during the month, though the amount invested in passive was nevertheless down from $10.8 billion in July.
Pimco was the leader in active flows with $4.1 billion, followed by Vanguard with $1.4 billion.
Vanguard topped the passive flows category with $19.3 billion, followed by BlackRock/iShares with inflows of $9.9 billion.
However, Morningstar said Fidelity, which came third in the passive stakes, was “becoming a stronger contender after multiple rounds of fee cuts”.
BlackRock High Yield Bond had the highest outflows in August of $1.4-billion.
Growth funds from Fidelity, T. Rowe Price, and American Funds were also subject to large outflows as investors kept moving away from US equity and growth stocks.
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