Staying on top of the most important mutual fund news is important for investors. Below, we highlight some recently reported mutual fund-focused news.
T. Rowe Price Launches Two New Mutual Funds
This week, T. Rowe Price (TROW) announced that it has launched two new mutual funds: International Concentrated Equity Fund (PRNCX) and Intermediate Tax-Free High Yield Fund (PRIHX)
International Concentrated Equity
The fund will be managed by Federico Santilli and will have a net expense ratio of 0.90%. The minimum initial investment for this fund is $2,500, or $1,000 for retirement accounts.
Intermediate Tax-Free High Yield Fund
This fund will be managed by James Murphy and will have a net expense ratio of 0.75%. The minimum initial investment for this fund $2,500, or $1,000 for retirement accounts.
Bond Funds Post $3.8 Billion in Outflows
According to reports released by Bank of America/Merrill Lynch, for the week ended September 17, investors pulled $3.8 billion out of bond funds. This outflows marks the biggest withdraw so far in 2014.
High yield bond funds accounted for $3.2 billion of the outflows – the biggest withdraw in six weeks.
Stock funds saw a $5.5 billion inflow in new investor cash.
Mutual Fund Assets Drop $419 Million
For the week ended September 17, mutual funds saw $419 million in outflows.
Equity funds reported inflows of $157 million, compared to inflows of $1.26 billion the week prior. U.S. equity funds declined by $1.98 billion – offset by foreign equity fund inflows.
While investors removed a total of $1.27 billion from taxable funds, $517 million was added to municipal funds.
In addition, $179 million was added to hybrid funds, and money market funds grew by $22.72 billion.
The Bottom Line
News that is focused around mutual funds can be very important to mutual fund investors that are interested in current investing trends in the industry.