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Rating:GSAM Roars, and BlackRock Retakes the Lead Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 14, 2018

GSAM Roars, and BlackRock Retakes the Lead

Reported by Neil Anderson, Managing Editor

For the first time since May, Vanguard is not winning the flows race.

The information within this article draws from Morningstar Direct data on August 2018 open-end mutual fund and ETF flows (excluding money market funds and funds of funds), and focuses specifically on firms with more than $100 billion in mutual fund and ETF AUM.

BlackRock retook the lead in August, bringing in an estimated $15.727 billion in net inflows, nearly quadrupling its $4.241 billion in July inflows. Other big August winners included: Vanguard, $8 billion (down from $15.441 billion in July); Goldman Sachs, $7.655 billion (up from $890 million); J.P. Morgan, $4.265 billion (up from $1.509 billion); and Charles Schwab, $2.714 billion (up from $2.641 billion).

Proportionately, among the biggest fund firms, Goldman took the lead in August, with estimated net inflows equivalent to 7.37 percent of its AUM (up from 0.93 percent in July). Other big August winners, proportionately, included: Lord Abbett, 1.34 percent (up from 0.96 percent); J.P. Morgan, 1.3 percent (up from 0.47 percent); Schwab, 1.29 percent (down from 1.3 percent); and BlackRock, 0.92 percent (up from 0.25 percent).

On the flip side, August was a rough month for SSgA, which suffered an estimated $8.336 billion in net outflows, down from $10.383 billion in net inflows in July. Other big sufferers in August included: Franklin Templeton, $2.161 billion (down from $2.747 billion); Columbia Threadneedle, $1.719 billion (up from $1.002 billion); T. Rowe Price, $1.315 billion (up from $1.182 billion); and American Century, $1.21 billion (down from $1.973 billion).

Proportionately, among the biggest fund firms, SSgA also suffered the most, with net outflows equivalent to 1.25 percent of its AUM (down from 1.57 percent in net inflows in July). Other big sufferers included: Columba Threadneedle, 1.09 percent (up from 0.64 percent); American Century, 1.06 percent (down from 1.74 percent); and John Hancock, 0.71 percent (up from 0.34 percent).

As a group, fund families with at least $100 billion in AUM per family brought in an estimated $28.713 billion in net inflows in August, equivalent to 0.19 percent of their combined AUM.

Across the whole industry, long-term open-end mutual funds and ETFs brought in a combined $22.219 billion in estimated net inflows in August, equivalent to 0.12 percent of their combined AUM. That's down from $31.915 billion in July. 

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