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Rating:A B-D's Funds Lead Again Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 29, 2019

A B-D's Funds Lead Again

Reported by Neil Anderson, Managing Editor

A broker-dealer's subadvised mutual fund business took the lead last month, pound for pound.

Ryan Timothy Robson
Edward Jones / Olive Street Investment Advisers, LLC
Principal, Client Strategy Group / President
This article draws from Morningstar Direct on open-end mutual fund and ETF flows, excluding money market funds and funds of funds, from October 2019.

Edward Jones' Bridge Builder regained the lead last month, with estimated net October inflows of $200 million per fund, up from $40 million per fund in September. Other big October inflows winners included: Aware, $131 million per fund (up from negligible outflows); Akre, $76 million per fund (up from $13 million per fund); Grayscale, $70 million per fund (up from $8 million per fund); and Horizon Investments, $43 million per fund (up from $2 million per fund).

On the flip side, last month was a rough one for Independent Franchise Partners, which suffered an estimated $635 million per fund in net October outflows, more than any other fund firm and down from $26 million per fund in net September inflows. Other big October outflows sufferers included: Dodge & Cox, $97 million per fund (down from $195 million per fund); Primecap, $68 million per fund (down from $154 million per fund); IVA, $61 million per fund (up from $31 million per fund); and RYZZ Capital Management, $39 million per fund (up from $1 million per fund).

The whole mutual fund and ETF industry (excluding money market funds and funds of funds) brought in an estimated $698,000 per fund in net October inflows, down from $962,000 per fund in September. 

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