Envestat Report: What Is the Message of Fund Flows In the First Half Of 2017?

With the first six months of 2017 now behind us and the markets providing a tailwind, we thought it would be an interesting exercise to extend our analysis of last month’s Envestat (“Are Investors Feeling Overconfident”) and focus on where the flows are going by investment style and asset class. We aimed to answer the following questions:

• If we are in a “risk-on” environment, what investment styles are winning the bulk of mutual fund and ETF flows?
• What styles are experiencing the largest outflows?
• Are the results comparable between UMA and APM portfolios?