The above chart illustrates the monthly net flows into mutual funds and ETFs for the U.S. equity, taxable bond and non-traditional bond categories over the last 36 months. Despite a +20% three year annual return of the S&P 500, investors are still piling more money into the bond market than into equities. What makes this remarkable is the fact that interest rates are at near record lows but investors are not afraid of investing in fixed income. Over the last 36 months, Morningstar estimates net inflows into the taxable bond category were $526B compared to just $98B for U.S. equities. Within the taxable bond category, the non-traditional universe is growing and has comprised 15% of the inflows. Visit to learn about Clark Capital’s non-traditional bond funds.

Past performance is not indicative of future results. The opinions expressed are those of the Clark Capital Management Group Investment Team. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy or strategies. This material is not intended to be relied upon as a forecast or research. All material is compiled from sources believed to be reliable but accuracy cannot be guaranteed.

Clark Capital Management Group, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Clark Capital’s advisory services can be found in its Form ADV which is available upon request.