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Rating:A Focused Fund Firm Wins In August Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 23, 2019

A Focused Fund Firm Wins In August

Reported by Neil Anderson, Managing Editor

For the second time this year, a certain focused mutual fund shop based in Virginia took the lead last month, pound for pound.

Charles T. Akre
Akre Capital Management
Managing Member, CEO, Chief Investment Officer
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 2019.

Akre regained the lead last month, with estimated net August inflows of $66 million per fund, up from $39 million per fund in July. Other big August winners included: Edward Jones' Bridge Builder, $53 million per fund (down from $75 million per fund); WCM, $44 million per fund (down from $65 million per fund); Independent Franchise Partners, $40 million per fund (up from $136 million per fund in net outflows); and Charles Schwab, $28 million per fund (roughly level with July).

On the flip side, last month was another rough one for Primecap, which suffered an estimated $153 million per fund in net August outflows, more than any other fund firm and up from $142 million per fund in July. Other big August sufferers included: Dodge & Cox, $103 million per fund (up from $75 million per fund); Harris' Oakmark, $51 million per fund (up from $42 million per fund); IVA, $38 million per fund (down from $39 million per fund); and SSgA, $36 million per fund (down from $31 million per fund in net inflows).

The whole mutual fund and ETF industry (excluding money-market funds and funds of funds) suffered $384,000 per fund in estimated net August outflows, down from $645,000 per fund in net July inflows. 

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