Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Nearly Half of Inflows Go to Midsize Firms Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 18, 2020

Nearly Half of Inflows Go to Midsize Firms

Reported by Neil Anderson, Managing Editor

Nearly half of net industry inflows went into midsize fund firms last month.

This article draws from Morningstar Direct data on October 2020 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. More specifically, this article focuses on the 76 fund firms (up from 73 in September) with between $10 billion and $100 billion each in long-term fund AUM. 35 of those firms gained net inflows in October (up from 34 in September), and 32 gained net inflows in the first ten months of 2020.

Edward Jones' Bridge Builder regained the lead last month, with an estimated $3.699 billion in net October inflows, up from $620 million in September. Other big October inflows winners included: Morgan Stanley, $2.467 billion (up from $259 million); Baird, $2.284 billion (down from $2.622 billion); Ark, $2.102 billion (up from $1.032 billion); and Guggenheim including Rydex), $1.442 billion (up from $882 million).

Ark led the midsize pack proportionately last month, thanks to estimated net October inflows equivalent to 12.4 percent of its AUM, up from 6.9 percent in September. Other big October inflows winners included: Mirae (including Global X), 3.9 percent (up from 3.7 percent); Bridge Builder, 3.9 percent (up from 0.7 percent); Guggenheim, 3.6 percent (up from 2.3 percent); and Mercer, 3.5 percent (up from 1.7 percent).

Year-to-date, as of the end of October, Baird led the midsize pack, with estimated net inflows of $13.762 billion. Other big YTD inflows winners included: ProShares and ProFunds, $12.892 billion; Bridge Builder, $10.999 billion; First Trust, $9.289 billion; and Ark, $9.577 billion.

On the flip side, October was a rough month for Harris' Oakmark, which suffered an estimated $1.06 billion in net outflows, more than any other midsize fund firm but down from $1.225 billion in September. Other big October outflows sufferers included: harbor, $781 million (up from $475 million); GMO, $687 million (up from $468 million0; Rafferty's Direxion, $626 million (up from $166 million); and Macquarie (including Delaware), $622 million (up from $145 million).

Proportionately, Direxion led the mid-size outflows pack last month, thank to estimated net October outflows equivalent to 4.1 percent of its AUM, up from 1 percent in September. Other big October outflows sufferers included: AQR, 3.2 percent (up from 2.9 percent); GMO, 2.5 percent (up from 1.6 percent); Great-West, 2.4 percent (up from 1 percent); and Oakmark, 2.3 percent (down from 2.6 percent).

In the first ten months of 2020, Oakmark led the midsize outflows pack, thanks to an estimated $14.166 billion in net outflows. Other big YTD outflows sufferers included: DoubleLine, $9.799 billion; Primecap, $8.438 billion; Victory, $8.196 billion; and First Eagle, $8.09 billion.

As a group, the 76 midsize fund firms brought in an estimated $6.38 billion in net October inflows, equivalent to 0.23 percent of their combined AUM and accounting for 47.5 percent of overall industry inflows. That's up from $1.625 billion, 0.06 percent of AUM, and 15.14 percent of industry inflows in September.

Yet YTD, midsize fund firms have suffered an estimated $49.91 billion in net outflows, equivalent to 1.76 percent of their combined AUM.

Across the entire industry, the 756 fund firms (up from 751 in September) tracked by the M* team brought in an estimated $13.432 billion in net October inflows, up from 410.736 billion in September. Active fund firms suffered $6.934 billion in net October outflows, while passive funds brought in $20.374 billion in net inflows. YTD, long-term funds and ETFs have brought in an estimated $13.913 billion in net inflows. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF Director Discussion Series - Open Forum via Zoom, December 7
  2. 2022 MMI Leadership Pathway Seminar, December 7
  3. 2022 Samfund Annual Celebration, December 7
  4. IMEA In Session - Cyber Security Trends, December 8
  5. U.S. Securities and Exchange Commission Investor Advisory Committee meeting, December 8
  6. MFDF webinar - Investment Valuation and Governance: Deloitte's 20th Annual Fair Valuation Pricing Survey, December 8
  7. Women in ETFs Philadelphia - Holiday Happy Hour With Project Home, December 8
  8. MMI webinar - Defining & Stimulating the Client Experience, December 9
  9. US SIF media webinar: US Sustainable Investing Trends 2022, December 12
  10. Vett Fi Advisor Perspectives Investment Insights Summit 2022, December 13
  11. IDC webinar - Spotlight on the SEC's Swing Pricing and Hard Close Proposals, December 14
  12. 2022 MMI Webinar Sponsored by the MMI Blockchain Finance Forum: Digital Asset Classification, December 14
  13. WE Boston: Annual Give Back Event 2022, December 14
  14. Nicsa webinar - Democratization of Private Assets, December 14
  15. MFDF In Focus: Closed-End Fund Activism, December 14
  16. Crane Data's Money Fund University, Dec 15-16
  17. Crane Data's Holiday Cocktail Party, December 15
  18. MFDF webinar - Impact of 2022 Mid-Term Elections on the Financial Industry, January 10, 2023
  19. IDC's Foundations for Fund Directors, January 11 - 12, 2023
  20. MFDF 2023 Directors' Institute, January 23 - 25, 2023
  21. Exchange: an ETF Experience, February 5 - 8, 2023
  22. 8th Annual Expect Miracles in Manhattan, February 16, 2023
  23. MFDF webinar - Fund Industry Claims Trends: An Insurer's Perspective, March 1, 2023
  24. MFDF 2023 Fund Governance & Regulatory Insights Conference, March 9 - 10, 2023
  25. Crane Data's Bond Fund Symposium, March 23 - 24, 2023
  26. 2023 MMI Summit, March 29 - 30, 2023




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use