Trends in Advisor Behavior During Market Volatility - Week of May 26, 2020
Cash declined slightly from 5.9% to just below 5.3% last week. The drop was a combination of cash being put to work and appreciation in equities and fixed income. Cash is still roughly two times the average, but more or less flat since early April. Net flows were nearly zero in both more risky and less risky assets last week. Client activity was down slightly last week in terms of both contributions and withdrawals. Clients continue to take slightly more out of their accounts than they are putting in. We saw strong buying of Intermediate Bond and High Yield Bond mutual fund and ETF styles. In equities, we saw broad but normal selling with no style seeing large relative outflows.
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