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Rating:Ark Is Still On Top YTD, But ... Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, June 29, 2021

Ark Is Still On Top YTD, But ...

Reported by Neil Anderson, Managing Editor

An active ETF shop still leads this year, pound-for-pound, despite a rough month.

Catherine "Cathie" Wood
ARK Investment Management, LLC
Founder, Chief Executive Officer
This article draws from Morningstar Direct data on open-end mutual fund and ETF flows, excluding money-market funds and funds of funds, from May 2021. (Other asset management products, like CITs and SMAs, are also not included.)

Horizon Kinetics kept the lead last month, thanks to an estimated $176 million per fund in net May 2021 inflows, down month-over-month from $208 million per fund in April 2021. Other big May 2021 inflows winners included: newcomer Oriental Trust, $131 million per fund; River Canyon, $121 million per fund (up M/M from $58 million per fund, up year-over-year from $12 million per fund in net May 2020 outflows); Edward Jones' Bridge Builder, $97 million per fund (down M/M from $125 million per fund, down Y/Y from $500 million per fund; and Vanguard, $79 million per fund (down M/M from $106 million per fund, up Y/Y from $18 million per fund).

As of May 31, 2021, Ark led the inflows pack proportionately for 2021, thanks to an estimated $1.9 billion per fund in net year-to-date inflows. Other big YTD inflows winners included: Bridge Builder, $1.089 billion per fund; and Grayscale, $777 million per fund.

For the 12 months ended on May 31, 2021, Ark also led the inflows pack thanks to an estimated $4.244 billion per fund in net inflows. Other big inflows winners included: Grayscale, $2.346 billion per fund; and Bridge Builder, $2.32 billion per fund.

Yet on the flip side, Ark took the outflows lead last month, suffering an estimated $244 million per fund in net May 2021 outflows, down M/M from $15 million per fund in net April 2021 inflows and down Y/Y from $100 million per fund in net May 2020 inflows. Other big May 2021 outflows sufferers included: Primecap, $82 million per fund (up M/M from $33 million per fund, down Y/Y from $465 million per fund); Causeway, $43 million per fund (up M/M from $1 million per fund, down Y/Y from $68 million per fund); EMQQ, $35 million per fund (up M/M from $3 million per fund, down Y/Y from $32 million per fund in net inflows); and Atlas, $31 million per fund.

Primecap led the outflows pack proportionately after the first five months of 2021, thanks to an estimated $502 million per fund in net YTD outflows. Other big YTD outflows sufferers included: Akre, $264 million per fund; and Mercer, $206 million per fund.

Primecap also led the outflows pack for the 12-months ending on May 31, 2021, thanks to an estimated $2.111 billion per fund in net outflows. Other big outflows sufferers included: Dodge & Cox, $1.452 billion per fund; and Blackstone, $408 million per fund.

The whole long-term U.S. mutual fund and ETF industry brought in an estimated $1.987 million per fund in net May 2021 inflows. That's down from $3.04 million per fund in April 2021 but up from $796,000 per fund in May 2020.

In the first five months of 2021, long-term funds brought in an estimated $14.783 million per fund in net YTD inflows. For the 12 months ending on May 31, 2021, they brought in an estimated $24.561 million per fund. 

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