Long-term mutual fund inflows fell to $14.1 billion in May, down from $24.1 billion in April and the smallest haul for the year to date, according to Kevin McDevitt, Editorial Director at Morningstar.

According to McDevitt, taxable-bond funds showed the greatest decline from inflows in April of $16.9 billion to $7.7 billion in May. Also, the two most popular categories, intermediate-term bond and high-yield bond, experienced “significant drops in demand”.

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