At the fund family level, Vanguard Group once again led all providers with more than $11 billion in flows, according to data from Morningstar.
“While PIMCO remained in second place in terms of fund family flows, its $2.5 billion May showing was its weakest showing for the year to date,” according to the research firm.
Franklin Templeton also had a strong month of flows in May, bringing in more than $2 billion and Fidelity Investments came in fourth, following strong flows to Fidelity Series Investment Grade Bond and Strategic Advisers Core Income.
On the flip side, Hartford Funds, Janus Capital Group, and Columbia Management each had strong outflows, according to Morningstar. For example, the Silver-rated Hartford Capital Appreciation Fund (ITHAX) saw redemptions of $1.4 billion, while the Neutral-rated Janus Fund (JDGAX) saw outflows of $481 million.