Morningstar, Inc., a leading provider of independent investment research, today reported estimated U.S. mutual fund asset flows through March 2012. Long-term funds took in $29.3 billion in March to end the quarter with inflows of $106.3 billion, but outflows continued for U.S.-stock funds for the eleventh straight month. The asset class gave up $8.3 billion in March, while, for the seventh straight month, taxable-bond funds topped all asset classes with inflows of $24.9 billion. For the quarter, taxable-bond funds saw inflows of $78.5 billion.

Additional highlights from Morningstar's report on mutual fund flows:

• Actively managed U.S. large-cap stock funds saw their eleventh straight quarter of net outflows, with $20.9 billion heading to the exits.
• Intermediate-term and high-yield bond funds saw the greatest inflows in March and in the first quarter among fixed-income funds. Since January 2009, these two categories have absorbed new assets of $314.4 billion.
• Emerging-markets bond fund flows reached $6.1 billion in the first quarter, by far the largest quarterly intake for these offerings. Assets in the category have risen to $55.5 billion today from $35.9 billion a year ago.  
• DoubleLine Total Return saw first-quarter and one-year inflows of $6.4 billion and $15.4 billion, respectively, leading all U.S. open-end funds over both periods