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Rating:Nuveen Leads As Large Firms' Inflows Rise 27 Percent Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 19, 2021

Nuveen Leads As Large Firms' Inflows Rise 27 Percent

Reported by Neil Anderson, Managing Editor

A retirement plan provider's asset management arm took the lead last month among large fund firms.

Jose Minaya
Nuveen
CEO
This article draws from Morningstar Direct data for July 2021 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like collective trusts and SMAs, are also not included.) More specifically, this articles focuses on the 24 firms with between $100 billion and $500 billion each in long-term fund AUM.

Large fund firms had a combined $5.097 trillion in long-term fund AUM as of July 31, 2021, and they accounted for 18.95 percent of industry long-term AUM. That compares with $5.042 trillion and 19 percent of AUM in June.

17 large fund firms brought in net long-term fund inflows in July 2021, down from 18 in June 2021.

TIAA's Nuveen led the large fund firm pack last month, bringing in an estimated $4.01 billion in net July 2021 inflows, up month-over-month from $2.021 billion in June 2021 and up year-over-year from $324 million in July 2020. Other big July 2021 inflows winners included: Charles Schwab, $3.585 billion (down M/M from $3.978 billion, up Y/Y from $571 million); Goldman Sachs, $2.329 billion (up M/M from $711 million, up Y/Y from $1.867 billion); Lord Abbett, $1.989 billion (up M/M from $1.847 billion, up Y/Y from $1.425 billion); and Dodge & Cox, $1.551 billion (up M/M from $81 million, up Y/Y frm $640 million in net outflows).

Schwab led the large fund firm pack year-to-date, as of July 31, 2021, thanks to an estimated $29.936 billion in net inflows for the first seven months of the year. Other big YTD 2021 inflows winners included: First Trust, $15.03 billion; and Pimco, $13.068 billion.

The same three firms also led the large fund firm pack in the 12 months ending on July 31, 2021: Schwab with $41.884 billion in net inflows, First Trust with $22.228 billion, and Pimco with $18.816 billion.

On the flip side, last month was a rough one for SEI's mutual funds, which led the large fund firm outflows pack thanks to an estimated $1.207 billion in net July 2021 outflows, down M/M from $1.568 billion in June 2021 but up Y/Y from $320 million in July 2020. Other big July 2021 outflows sufferers included: Principal, $765 million (down M/M from $476 million in net inflows, up M/M from $653 million); Macquarie's Delaware, $728 million (up M/M from $635 million, up Y/Y from $290 million); Jackson National, $566 million (up M/M from $509 million, up Y/Y from $553 million); and DFA, $278 million (down M/M from $1.934 billion, down Y/Y from $3.402 billion).

DFA led the YTD outflows pack as of July 31, 2021, thanks to an estimated $10.699 billion in net outflows. Other big YTD outflows sufferers included: SEI, $5.436 billion; and Janus Henderson, $4.465 billion.

And DFA also led the outflows pack in the 12 months ending July 31, 2021, thanks to an estimated $27.155 billion in net outflows. Other big outflows sufferers included: Delaware, $7.6 billion; and Principal, $6.459 billion.

As a group, the 24 large fund firms brought in an estimated $16.278 billion in net inflows in July 2021, equivalent to 0.32 percent of their combined AUM and accounting for 21.12 percent of overall industry long-term inflows. That's up from $12.807 billion, 0.25 percent of AUM, and 12.14 percent of industry inflows in June 2021.

In the first seven months of 2021, large fund firms brought in an estimated $108.786 billion in net inflows, equivalent to 2.13 percent of their combined AUM and accounting for 13.58 percent of industry inflows. And for the 12 months ending July 31, 2021, large fund firms brought in $162.825 billion in net inflows, equivalent to 3.19 percent of their AUM and accounting for 14.87 percent of industry inflows.

Across the entire industry, the 774 fund firms (up from 768 in June 2021 and 757 in July 2020) tracked by the M* team brought in a combined $77.077 billion in estimated net long-term inflows in July 2021, equivalent to 0.27 percent of industry AUM of $26.898 trillion. That compares with $105.503 billion and $26.534 trillion in June 2021 and $41.339 billion and $20.737 trillion in AUM.

Active funds brought in an estimated $14.693 billion in net July 2021 inflows, down M/M from $24.578 billion but up Y/Y from $12.052 billion. Passive funds brought in an estimated $57.431 billion in July 2021 inflows, down M/M from $80.917 billion but up Y/Y from $29.381 billion.

In the first seven months of 2021, long-term funds brought in an estimated $801.234 billion in net inflows, equivalent to 2.98 percent of long-term fund AUM. And in the 12 months ending July 31, 2021, long-term funds brought in $1.095194 trillion in net inflows, equivalent to 4.07 percent of their AUM. 

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