Asset Management

Equity fund squeeze weighs on US asset managers

Pullback from stock funds set to hurt fund managers’ third-quarter earnings

Monday 14 October 2019 at 23:01

Cautious US investors pulled $60bn out of stock funds in the third quarter, ratcheting up pressure on money managers.

The net outflows accounted for the most money leaving stock funds in a quarter since 2009, according to Morningstar data on US mutual funds and exchange-traded funds.