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Rating:Lord Abbett Takes the Active Lead Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 24, 2019

Lord Abbett Takes the Active Lead

Reported by Neil Anderson, Managing Editor

The low-cost leviathan kept pole position last month on the passive side of the business, but not on the active side.

Douglas Bloom Sieg
Lord Abbett
Managing Partner
This article draws from Morningstar Direct data on August 2019 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds.

On the active side of the business, Lord Abbett took the lead last month, with estimated net August active inflows of $1.87 billion, up from $1.868 billion in July. Other big August winners on the active side included: PGIM, $1.606 billion (up from $1.333 billion); TCW (including MetWest), $1.342 billion (up from $488 million); Goldman Sachs, $1.282 billion (up from $423 million); and MFS, $1.11 billion (up from $964 million).

Yet on the passive side of the business, Vanguard kept the lead, with estimated net August passive inflows of $6.595 billion, down from $11.704 billion in July. Other big August winners on the passive side included: Fidelity, $6.343 billion (up from $4.644 billion); Charles Schwab, $2.839 billion (up from $2.828 billion); Goldman, $791 million (down from $965 million); and TIAA's Nuveen, $550 million (up from $521 million).

On the flip side, August was another rough month for Invesco's active funds, which again led the outflows pack, thanks to estimated net outflows of $3.303 billion, down from $4.122 billion in July. Other big August sufferers on the active side included: Franklin Templeton, $2.06 billion (up from $1.484 billion); Fidelity, $2.044 billion (down from $2.299 billion); Harris' Oakmark, $1.478 billion (up from $1.206 billion); and Deutsche Bank's DWS, $974 million (up from $293 million).

SSgA suffered an estimated $10.47 billion in net passive outflows in August, more than any other passive fund family and down from $8.156 billion in net July passive inflows. Other big August sufferers on the passive side included: BlackRock, $7.84 billion (up from $3.41 billion); WisdomTree, $1.146 billion (up from $148 million); VanEck, $552 million (down from $41 million in net inflows); and Milleis Investissments Funds, $506 million (down from $718 million).

Industrywide, 714 active fund families (five fewer than in July) suffered an estimated $11.227 billion in combined net outflows in August, down from $158 million in net July inflows. 279 of those 714 fund families gained net active inflows in July.

142 passive fund families (the same as in July) suffered an estimated $4.7 billion in combined net August passive outflows, down from $26.54 billion net inflows in July. 64 of those 142 families gained net passive inflows in August. 

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