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Friday, March 20, 2020

Back On Top After Two Months

Reported by Neil Anderson, Managing Editor

After a two-month break, a B-D's subadvised mutual fund is back on top of the industry, pound for pound.

Ryan Timothy Robson
Edward Jones / Olive Street Investment Advisers, LLC
Principal, Client Strategy Group / President
This article draws from Morningstar Direct data on open-end mutual fund and ETF flows, excluding money market funds and funds of funds, from February 2020.

Edward Jones' Bridge Builder regained the lead last month, with estimated net February inflows of $106 million per fund, up from $63 million in January. Other big February winners included: Aware, $75 million per fund (up from $1 million per fund in net outflows); Mercer, $59 million per fund (up from $12 million per fund in net outflows); Grayscale, $51 million per fund (down from $71 million per fund); and Vanguard, $48 million per fund (down from $103 million).

On the flip side, last month was another rough one for Primecap, which suffered an estimated $227 million per fund in net February outflows, again more than any other fund firm and up from $193 million in January. Other big February outflows sufferers included: Dodge and Cox, $115 million per fund (up from $34 million); SSGA, $104 million per fund (up from $500,000); Chiron, $53 million per fund (up from $27 million); and Sound Shore, $41 million per fund (up from $20 million).

The whole mutual fund and ETF industry, excluding money market funds and funds of funds, brought in an estimated $614,000 per fund in net February inflows, down from $2.006 million per fund in January. 

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