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Rating:The Three ETF Titans Crushed It In June Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 15, 2019

The Three ETF Titans Crushed It In June

Reported by Neil Anderson, Managing Editor

The big three ETF shops accounted for a whopping 138 percent of all net mutual fund industry flows last month.

Laurence D. Fink
BlackRock
Chairman, CEO
This article draws from Morningstar Direct data on June 2019 mutual fund and ETF flows, excluding money market funds and funds of fund. More specifically, this article focuses on the 27 firms with more than $100 billion each in fund AUM. 13 of those firms gained net June inflows.

BlackRock took the lead with an estimated $36.227 billion in net June inflows, up from $211 million in May. Other big June winners included: SSgA, $14.235 billion (up from $22.868 billion in net outflows); Vanguard, $13.137 billion (down from $16.66 billion); Pimco, $2.334 billion (up from $1.647 billion); and Schwab, $2.304 billion (up from $2.284 billion).

Proportionately, SSgA took the lead among the biggest fund firms, thanks to estimated net June inflows equivalent to 2.14 percent of its AUM, up from 3.71 percent in net May outflows. Other big June winners included: BlackRock, 1.95 percent (up from 0.01 percent); Schwab, 0.99 percent (down from 1.05 percent); Lord Abbett, 0.64 percent (down from 0.84 percent); and Pimco, 0.62 percent (up from 0.44 percent).

On the flip side, June was a rough month for T. Rowe Price, which suffered estimated net outflows of $5.221 billion, more than any other big fund firm and down from $472 million in net May inflows. Other big June sufferers included: Franklin Templeton, $1.976 billion (up from $1.165 billion); Invesco, $1.77 billion (down from $5.799 billion); Jackson, $1.523 billion (up from $740 million); and SEI, $1.36 billion (up from $176 million).

SEI led the large fund firm outflows pack proportionately last month, with estimated net June outflows equivalent to 1.36 percent of its AUM, up from 0.18 percent in May. Other big June sufferers included: Goldman Sachs, 1.11 percent (down from 1.13 percent in net inflows); Jackson, 0.87 percent (up from 0.44 percent); T. Rowe, 0.82 percent (down from 0.08 percent in net inflows); and American Century, 0.73 percent (down from 0.76 percent).

As a group, the 27 firms with more than $100 billion each in fund assets brought in an estimated $56.065 billion in net June inflows, equivalent to 0.35 percent of their combined AUM. That's up from $2.766 billion in May.

Across the whole industry (M* tracks flows from 778 firms), long-term mutual funds and ETFs brought in a combined $46.25 billion in estimated net inflows in June, equivalent to about 0.24 percent of industry AUM. That's up from $1.843 billion in net May outflows. Passive funds brought in $68.599 billion in net June inflows, while active funds suffered $22.349 billion in net outflows. 

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