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Leverage World finds firms with outflows exceed inflows 2 to 1 in week ended March 29
St. Louis, April 4 - More institutions had money go out than in over the week ended March 29, according to Leverage World, the weekly publication of high-yield strategy published by noted strategist Martin Fridson.
AMG Data Services, which provides widely followed high-yield mutual funds flows data, reported the same results.
Leverage World's Fund Flow Investor Survey, which includes hedge funds, insurance companies and mutual funds, showed the number of managers reporting outflows exceeded managers reporting inflows by a 2 to 1 margin during the week to March 29.
The previous week's outflows exceeded inflows by a 5 to 2 margin.
Leverage World asks subscribers weekly whether they had net inflows, net outflows or no change. The week ends Tuesday for purposes of the survey. Of 14 managers polled, 79% were long only and 21% were hedge funds. Those with combined long and hedge funds had more than $46 billion of high-yield investments under management.
In the week ended March 29, 21% of those managers surveyed reported net inflows, 36% reported no change and 43% reported net outflows. The cash position of those surveyed was 10%.
Further, in an analysis of AMG fund-flow data, Leverage World reports that the $1.13 billion outflow that AMG reported for the week ended March 30 ranked as the third-largest outflow over the past 52 weeks. The $1.50 billion outflow for the previous week ranked second largest over the same period.
Leverage World also stated that during the week to March 30, 22% of the funds included in the AMG survey reported net inflows, 5% reported no change and 73% reported net outflows.
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