NEW YORK, April 3 (Reuters) - Guggenheim Investments, overseen by global chief investment officer Scott Minerd, had positive net flows of more than $1.5 billion into its fixed-income mutual funds and ETFs in March, the firm said on Monday.
Investors were undeterred by the Federal Reserve’s rate hike last month: Guggenheim’s flagship Total Return Bond Fund, an intermediate-term fund that has outperformed 99 percent of its rivals over one, three, and five years, according to Morningstar, took in $491 million in March, the firm said. The $5.7 billion fund has experienced net inflows for 39 consecutive months, Guggenheim added.
Meanwhile, the Guggenheim Macro Opportunities Fund, a $5 billion non-traditional bond fund that has also outperformed 99 percent of its rivals over five years, took in $345 million in March, the firm said.
Guggenheim Floating Rate Strategies Fund, a $3.5 billion bank loan fund that has outperformed 97 percent of peers over five years, took in $170 million in March.
Guggenheim Limited Duration Fund, a short-term bond fund, experienced its 40th consecutive month of net inflows since its December 2013 inception. It has outperformed 99 percent of funds in its Morningstar category over three years.
Guggenheim said its BulletShares suite of defined maturity ETFs had $272 million in net flows in March, which helped the firm reach an all-time high with $34.6 billion in ETF assets under management. (Reporting By Jennifer Ablan; Editing by Andrew Hay)