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Rating:Ark Takes the Lead, Proportionately Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 20, 2020

Ark Takes the Lead, Proportionately

Reported by Neil Anderson, Managing Editor

A Gotham ETF startup took the lead last month, pound for pound, even as net industry inflows per fund fell.

Catherine "Cathie" Wood
ARK Investment Management, LLC
Founder, Chief Executive Officer
This article draws from Mornignstar Direct on U.S. open-end mutual fund and ETF flows, excluding money market funds and funds of funds, from July 2020.

Ark led the pack proportionately last month, with estimated net inflows of $213 million per fund in July, up from $155 million per fund in June. Other big July inflows winners included: Edgewood, $109 million per fund (up from $95 million per fund); Spyglass Capital Management, $59 million per fund (up from $54 million per fund); Baird, $55 million per fund (up from $41 million per fund); and EMQQ, $53 million per fund (down from $70 million per fund).

In the first seven months of 2020, Edgewood topped the pack with an estimated $1.109 billion per fund in net inflows. Other big YTD inflows winners, as of July 31, included: Edward Jones' Bridge Builder, $803 million per fund; Ark, $636 million per fund; Spyglass, $485 million per fund; and Infinity Q, $305 million per fund.

On the flip side, July was a rough month for Primecap, which suffered an estimated $245 million per fund in net outflows, up from $217 million per fund in June. Other big July outflows sufferers included: Dodge & Cox, $107 million per fund (down from $476 million per fund); IVA, $89 million per fund (up from $71 million per fund); Thompson IM, $52 million per fund (up from $41 million per fund; and Harris' Oakmark, $46 million per fund (up from $41 million per fund).

In the first seven months of 2020, Primecap also led the pack thanks to an estimated $2.161 billion per fund in net outflows. Other big YTD outflows sufferers, as of July 31, included: Dodge & Cox, $1.911 billion per fund; IVA, $434 million per fund; Blackstone, $434 million per fund; and FMI, $404 million per fund.

The whole U.S. mutual fund and ETF industry, excluding money market funds and funds of funds, brought in an estimated $994,000 per fund in net July inflows, down from $1.679 million per fund in June. Yet YTD, as of July 31, the industry suffered an estimated $1.53 million per fund in net outflows. 

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