A certain roboadvisor won the mutual fund flows again in April, at least proportionately.
This article draws from Morningstar Direct
data on open-end mutual fund and ETF flows from April 2018.
The sole Wealthfront
mutual fund brought in an estimated $441 million in net inflows in April, more per fund than any other fund firm and up from $161 million in March
. Other big April winners proportionately included: Primecap
, $153 million per fund (up from $143 million in March); Edgewood
, $117 million (up from $115 million); Edward Jones' Bridge Builder
, $111 million (up from $107 million); and Mercer
, $60 million (up $21 million per fund in net outflows).
On the flip side, Dodge & Cox
suffered an estimated $76 million in net outflows per fund in April, more than any other fund firm and up from $52 million in March. Other big sufferers in April included: Polaris
, $35 million per fund (up from $6 million); Hamlin
, $35 million (up from $4 million); Sequoia
, $35 million (up from $25 million); and Tweedy Browne
, $33 million (down from $34 million).
Across the industry, the average open end mutual fund or ETF brought in an estimated $964,000 in net inflows in April, up from $334,000 in March.
M* recently released a report about industrywide flows, and MFWire highlighted
the biggest winners and losers among the largest fund firms. Across the whole industry, long-term funds brought in $30.591 billion in net inflows in April, while money funds suffered $9.029 billion in net outflows. Within long-term funds, taxable bond funds, international equity funds, U.S. equity funds, and commodities all had net inflows, while sector equity funds, allocation funds, muni bond funds, and liquid alts suffered net outflows.
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