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