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BNY Mellon's Pershing Releases 2019 Asset Flows Barometer

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: PR Newswire
PHOENIX, June 13, 2019 /PRNewswire/ -- According to the 2019 Pershing Asset Flows Barometer, released today by BNY Mellon's Pershing ("Pershing"), net inflows into mutual funds and exchange-traded funds (ETFs) followed similar trend lines over the trailing 12 months ending March 31, 2019, with mutual funds experiencing net inflows of $4 billion compared to $26.6 billion in net inflows into ETFs. The only exception to the norm was the fourth quarter of 2018, when mutual funds suffered outflows even as ETFs experienced inflows."The downward market pressure in the fourth quarter contributed to mutual fund outflows we experienced on our platform," said Rich Calvario, director of investment solutions at Pershing. "While fleeing from active management in a volatile market may be counterintuitive, it is likely that financial professionals were deploying tax loss harvesting strategies to offset a portion of their losses before year-end."After experiencing outflows of $8.3 billion in the fourt Show less Read more
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