PIMCO Funds Bled $5.5 Billion in April: Morningstar

But in the first four months of 2014, U.S.-equity funds had inflows of $25.2 billion, their strongest start to the year since 2004, the Chicago-based research group says.

"The majority of inflows for the asset class benefited passive funds," it noted. "Active U.S.-equity funds had outflows of $5.7 billion through April, although JPMorgan, MFS and Putnam have successfully attracted robust flows to active offerings."

In terms of style categories, large-blend and foreign large-blend led April's inflows. At the same time, large-growth funds had outflows, including the American Funds Growth Fund of America, which has experienced net redemptions for 51 straight months.

The multi-sector bond category was a popular choice for investors in April, most notably the PIMCO Income Fund—which had $951 million of inflows.

Fund Families

Vanguard's performance still tops the charts—with $10 billion of net inflows in April and nearly $46 billion so far in 2014.

JPMorgan had April inflows of close to $3 billion; in the first four months of the year, inflows were nearly $11 billion

Dimensional Fund Advisors is close behind, with April inflows of $2.7 billion and year-to-date inflows of $10.4 billion as of April 30, Morningstar says.

Fidelity, however, had outflows of $435 million in April; its year-to-date outflows were close to $2 billion.

American Funds, though, had inflows of $758 in April, and its January-to-April inflows were nearly $2 billion.