Where did Investors go in July?

[jongaltiii]

M* story: www.morningstar.com/articles/1054410/us-asset-flows-break-from-the-trend-in-july

Passive ETF’s were the biggest inflow. 
“The shift is reflected in the market's choice of investment vehicles. ETFs, which are nearly synonymous with passive management (96% of ETF assets are passively managed), continue to dominate U.S. equity fund flows and have also made headway in other sectors deemed to be more friendly to active management.”

Large and Small Value funds saw outflows for the first time.

Investors heading to International
”Demand for international-equity funds remained strong in July as they collected $30 billion, marking their ninth consecutive month of inflows. They've now taken in $171 billion over the trailing 12 months, the most of any equity category group. ”

Vanguard - wow! That’s a lot more than Fido.
“Among the largest asset managers, passives titan Vanguard took home by far the most assets in July, pulling in about $36 billion. Fidelity collected the second most with $7.6 billion, thanks to passive offerings such as Fidelity 500 Index (FXAIX) and Fidelity International Index (FSPSX). “

[uncleharley]

Is the flow into S&P 500 index funds a contrary indicator?

[jongaltiii]

uncleharley - the author's premise is that the flow into passive funds is really a mutual fund to ETF story. Big flows into ETF's - which are mostly passive. Lesser flows into funds.