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Thursday, September 20, 2018

Fund Flows Fall 30 Percent, Proportionately

Reported by Neil Anderson, Managing Editor

Pound for pound, mutual fund inflows fells more than 30 percent last month.

This article draws from Morningstar Direct data on open-end mutual fund and ETF flows (excluding money market funds and funds of funds) from August 2018.

Edward Jones' Bridge Builder stayed on top last month, with estimated net inflows of $381 million per fund, up from $353 million in July. Other big winners in August included: Primecap, $173 million per fund (up from $83 million); Independent Franchise Partners, $58 million (up from $2 million in outflows); Thompson IM, $44 million (down from $46 million); and LSV, $34 million (up from $431,000 in outflows).

On the flip side, August was a rough month for Seafarer, which suffered an estimated $59 million per fund in net outflows, up from $41 million in July. Other big sufferers in August included: Robo Global, $51 million per fund (up from $55 million); Mairs & Power, $42 million (up from $29 million); SSgA, $39 million (down from $48 million in net inflows); and FMI, $37 million (up from $2 million).

Industrywide, the average ETF or long-term, open-end mutual fund brought in an estimated $547,000 in inflows in August, down from $786,000 in July. Across the whole industry, funds brought in $22.219 billion in estimated net inflows in August, equivalent to about 0.12 percent of industry AUM (which reached $19.071 trillion as of the end of August). That's down from $$31.915 billion in July. 

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