A B-D's subadvised fund family took the lead last month, pound-for-pound, as industry inflows rose 27 percent proportionately.

Ryan Timothy Robson Edward Jones / Olive Street Investment Advisers, LLC Principal, Client Strategy Group / President

This article draws from Morningstar Direct data on June 2021 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. (Other asset management products, like CITs and SMAs, are also not included.)

Edward Jones' Bridge Builder took the lead last month, thanks to an estimated $130 million per fund in net June 2021 inflows, up month-over-month from $97 million per fund in May 2021 but down year-over-year from $492 million per fund in June 2020. Other big June 2021 inflows winners included: Ark, $123 million per fund (up M/M from $244 million per fund in net outflows, down Y/Y from $155 million per fund); newcomer Engine No. 1, $116 million per fund; Horizon Kinetics, $87 million per fund (down M/M from $176 million per fund); and Old Westbury, $86 million per fund (up M/M from $26 million per fund, up Y/Y from $22 million per fund in net outflows).

Horizon Kinetics led the pack proportionately last quarter, thanks to an estimated $471 million per fund in net second quarter inflows. Other big Q2 2021 inflows winners included: Bridge Builder, $352 million per fund; and Vanguard, $251 million per fund.

In the first six months of 2021, Ark led the pack thanks to an estimated $2.023 billion in net inflows per fund. Other big year-to-date inflows winners included: Bridge Builder, $1.208 billion per fund; and Grayscale, $777 million per fund.

For the 12 months ending on June 30, 2021, Ark also led the pack thanks to an estimated $4.232 billion per fund in net inflows. Other big inflows winners included: Grayscale, $2.226 billion per fund; and Bridge Builder, $1.95 billion per fund.

On the flipside, Primecap took the outflows lead last month, suffering an estimated $69 million per fund in net June 2021 outflows, down M/M from $82 million per fund in May 2021 and down Y/Y from $217 million per fund in June 2020. Other big June 2021 inflows sufferers included: Sands Capital, $59 million per fund (down M/M from $13 million per fund in net inflows, down Y/Y from $27 million per fund in net inflows); Trust for Credit Unions, $27 million per fund (down M/M from $8 million per fund in net inflows, down Y/Y from $21 million per fund in net inflows); USCF, $20 million per fund (up M/M from $1 million per fund, down Y/Y from $33 million per fund); and DFA, $18 million per fund (up M/M from $6 million per fund, down Y/Y from $27 million per fund).

Primecap also led the outflows pack last quarter, thanks to an estimated $184 million per fund in net Q2 2021 outflows. Other big Q2 outflows sufferers included: Ark, $106 million per fund; and Mercer, $76 million per fund.

Primecap also led the outflows pack in the first six months of 2021, thanks to an estimated $571 million per fund in net outflows YTD as of June 30. Other big YTD outflows sufferers included: Akre, $263 million per fund; and Mercer, $222 million per fund.

And Primecap also led the outflows pack for the 12 months ending on June 30, 2021, thanks to an estimated $1.936 billion per fund in net outflows. Other big outflows sufferers included: Dodge & Cox, $1.035 billion per fund; and Blackstone, $286 million per fund.

The whole long-term U.S. mutual fund and ETF industry brought in an estimated $2.528 million per fund in net June 2021 inflows. That's up from $1.987 million per fund in May 2021 and up from $1.679 million per fund in June 2020.

In Q2 2021, long-term funds brought in an estimated 7.622 million per fund in net inflows. In the first half of 2021, they brought in $17.31 million per fund. And in the 12 months ending on June 30, 2021, they brought in an estimated $25.366 million per fund. 

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