Mutual fund investors are moving away from costly investment products and into fixed income and more passive vehicles. As a result, bond and target-date funds are among the strategies gathering the largest inflows, along with international funds.
"A really disproportionate flow has gone into fixed income," explains Robert Johnson, the director of economic analysis at Morningstar. "Target-date funds have done better … because [clients] want one-step control. They don’t want to sit there and pick between 23 funds in a fund family. They would rather just have one picked for their age."
Scroll through to see the top 20 mutual funds with more than $1 billion in assets ranked by their net share class inflows over the last five years. The following flow data was last reported on Oct. 31 and returns on Nov. 4. All data is from Morningstar.