The Lipper division of London Stock Exchange Group announced Saturday that it is looking into an unusually large transaction tied to a single investment-grade bond fund — one that significantly distorted the company’s broader fixed-income fund flow data.
“We are investigating this matter and have identified a sizeable flow within the Short-Intermediate Investment Grade Debt classification that has negatively impacted the fixed income universe,” a Lipper spokesperson said. The spokesperson added that more details would be released once the data has been verified.
Lipper, which specializes in fund performance research and data services, has pulled the fund in question from its current weekly flow report while the review remains ongoing.
The company said it is working to determine whether the reported movement represents a fund transfer or some other kind of operational event.
Data released by Lipper on Friday had shown that U.S. investment-grade bond funds saw $7.1 billion in net outflows during the week — the largest single-week withdrawal ever recorded — following a record one-day outflow of $8.2 billion on July 20.
However, when the fund under review is excluded from the calculation, U.S. investment-grade funds actually posted net inflows of $1.54 billion for the week ending July 22, according to a Bloomberg News report published Friday.
