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Thursday, May 21, 2020

A Focused Growth Shop Wins

Reported by Neil Anderson, Managing Editor

A focused large cap growth shop won the flows race last month, pound for pound.

Alan W. Breed
Edgewood Management LLC
President, PM
This article draws from Morningstar Direct data on open-end mutual fund and ETF flows, excluding money market funds and funds of funds, from April 2020.

Edgewood took the lead last month, with estimated net April inflows of $381 million per fund. Other big April winners included: USCF, $187 million per fund; Axonic, $185 million per fund; TransWestern Funds, $166 million per fund; and Akre, $127 million per fund.

On the flip side, last month was another rough one for Primecap, which suffered an estimated $426 million per fund in net April outflows. Other big April outflows sufferers included: Dodge & Cox, $260 million per fund; BMT, $188 million per fund; Blackstone, $125 million per fund; and Edward Jones' Bridge Builder, $93 million per fund.

The whole mutual fund and ETF industry, excluding money market funds and funds of funds, brought in an estimated $315,000 per fund in net inflows in April. 

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