Barclays Global Investors took in the largest amount of new money to mutual funds in November as investors snapped up the company's internationally oriented exchange traded funds (ETFs), data released on December 27 show.
Three of Barclays' ETFs, which resemble mutual funds but trade on exchanges like stocks, ranked among the 10 best selling offerings last month, Financial Research Corp said.
In a familiar pattern, Putnam Investments, the ninth largest mutual fund complex, recorded the biggest outflows in the month.
Overall stock and bond funds pulled in $29.1 billion in net new money last month, more than twice as much as they added in October when $12.4 billion in new money poured in.
International and Global funds remained very popular, pulling in $16.6 billion and outpacing demand for US stock funds which added $12 billion last month, FRC said.
Barclays, which posted the strongest monthly flows, pulled in $7.06 billion in new money, edging out State Street Global Advisors which pulled in $6.37 billion.
State Street's SPDRs product, which closely tracks the performance of the Standard & Poor's 500 Index, ranked as the $8.4 trillion mutual fund industry's best seller last month.
In the first 11 months of the year, American Funds, part of the privately-held Los Angeles-based Capital Group Cos., took in the most new money, adding $72.2 billion. Boston based Putnam suffered the most redemptions, losing $18.9 billion in assets. Last year, Putnam saw $24.5 billion in outflows.
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