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Monday, November 26, 2018

October Outflows Surpassed September Inflows

Reported by Neil Anderson, Managing Editor

Net mutual fund outflows last month surpassed net inflows the month before that, proportionately.

Mark Andersen
Callan
Senior Vice President, Manager of the Trust Advisory Group
This article draws from Morningstar Direct data on open-end mutual fund and ETF flows (excluding money market funds and funds of funds) from October 2018.

Kaiser Permanente's KP Funds (powered by Callan) took the lead last month proportionately, bringing in an estimated $155 million per fund in October, up from $8 million per fund in September. Other big October winners included: Edward Jones' Bridge Builder, $113 million per fund (up from $47 million per fund); ETF Managers Trust, $105 million per fund; Thompson IM, $37 million per fund (down from $48 million per fund); and WCM, $26 million per fund (down from $37 million per fund).

On the flip side, October was a rough month for Robo Global, which suffered an estimated $253 million per fund in net outflows, more than any other fund firm and up from $29 million per fund in September. Other big October sufferers included: Dodge & Cox, $242 million per fund; Ruane Cunniff & Goldfarb's Sequoia, $63 million per fund (up from $22 million per fund); Real Estate Management Services Group, $58 million per fund (up from $24 million per fund); and Harris' Oakmark, $50 million per fund (up from $28 million per fund).

Industrywide, the average ETF or long-term, open-end mutual fund (not counting funds of funds) suffered an estimated $712,000 in net outflows in October, down from $644,000 per fund in net inflows in September. Across the whole industry, funds suffered a combined $29.184 billion in estimated net outflows in October, equivalent to about 0.16 percent of their combined AUM. That's down from $28.269 billion in net inflows in September. 

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