Value-conscious AMG Yacktman has a lot of dry powder. Here's why.
Long-term funds suffered $16 billion in outflows during August.
It's difficult to avoid index overlap entirely.
Strong demand for taxable-bond, municipal-bond, and money market funds in July.
Passive funds record their best month year to date.
Investors pulled nearly $2 billion from long-term funds in May.
Despite the shift, it hasn’t been a great decade for U.S. equity funds in terms of overall flows.
Cash piled into bond funds in March, and the market share of passive strategies among U.S equity funds reached 49%.