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Wednesday, December 18, 2019

Industry Inflows Per Fund Nearly Double

Reported by Neil Anderson, Managing Editor

Estimated net mutual fund industry inflows per fund increased by more than 90 percent last month.

This article draws from Morningstar Direct data on open-end mutual fund and ETF flows, excluding money market funds and funds of funds, from November 2019.

Edward Jones' Bridge Builder kept the lead last month, with estimated net November inflows of $129 million per fund, down from $200 million per fund in October. Other big November inflows winners included: Morningstar, $73 million per fund (up from $3 million per fund); newcomer Red Cedar, $50 million per fund; Edgewood, $47 million per fund (up from $6 million per fund in net outflows); and ClearShares, $45 million per fund (up from negligible net flows).

On the flip side, last month was a rough one for Primecap, which suffered an estimated $133 million per fund in net November outflows, more than any other fund firm and up from $68 million per fund in October. Other big November outflows sufferers included: Dodge & Cox, $128 million per fund (up from $97 million per fund); Sound Shore, $40 million per fund (up from $29 million per fund); Southeastern's Longleaf, $34 million per fund (up from $20 million per fund); and Ruane Cunnif & Goldfarb's Sequoia, $33 million per fund (up from $29 million per fund).

The whole mutual fund and ETF industry (excluding money market funds and funds of funds) brought in an estimated $1.333 million per fund in net November inflows, up from $698,000 per fund in October. 

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