A fixed income titan look the lead last month among large fund firms.

Emmanuel "Manny" Roman Pimco CEO, Managing Director

This article draws from Morningstar Direct data for August 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 article focuses on the 24 firms with between $100 billion and $500 billion each in long-term fund AUM.

Large fund firms had a combined $5.048 trillion in long-term fund AUM as of August 31, 2021, and they accounted for 18.58 percent of industry long-term AUM. That's down from $5.097 trillion and 18.95 percent of AUM in July.

13 large fund firms brought in net long-term fund inflows in August, down from 17 in July.

Allianz's Pimco took the lead last month, bringing in an estimated $4.229 billion in net August 2021 inflows, up month-over-month from $1.016 billion in July 2021 and up year-over-year from $1.899 billion in August 2020. Other big August 2021 inflows winners included: TIAA's Nuveen, $3.744 billion (down M/M from $4.01 billion, up Y/Y from $677 million); Charles Schwab, $3.035 billion (down M/M from $3.585 billion, up M/M from $1.155 billion); Goldman Sachs, $2.727 billion (up M/M from $28 million, down Y/Y from $2.78 billion); and Lord Abbett, $1.775 billion (down M/M from $1.989 billion, up Y/Y from $1.61 billion).

As of August 31, 2021, Schwab led the year-to-date large fund firm inflows pack, thanks to an estimated $32.971 billion in net YTD inflows. Other big inflows winners included: Pimco, $17.297 billion; and First Trust, $16.718 billion.

For the 12-month period ending August 31, 2021, Schwab led the pack thanks to an estimated $43.765 billion in net inflows. Other big inflows winners included: First Trust, $22.607 billion; and Baird, $21.192 billion.

On the flip side, last month was a rough one for Macquarie's Delaware funds, which led the large fund firm outflows pack thanks to an estimated $1.027 billion in net August 2021 outflows, up M/M from $728 million and up Y/Y from $421 million. Other big August 2021 outflows sufferers included: Jackson, $614 million (down M/M from $78 million in net inflows, up Y/Y from $134 million); MFS, $550 million (down M/M from $737 million in net inflows, down Y/Y from $3.697 billion in net inflows); SEI, $535 million (down M/M from $1.207 billion, up Y/Y from $222 million); and Edward Jones' Bridge Builder, $346 million (down M/M from $989 million in net inflows, down Y/Y from $2598 million in net inflows).

DFA led the YTD outflows pack as of August 31, 2021, thanks to an estimated $10.779 billion in net outflows. Other big YTD outflows sufferers included: SEI, $5.971 billion; and Delawares, $4.953 billion.

And DFA also led the outflows pack in the 12-month period ending August 31, 2021, thanks to an estimated $24.417 billion in net outflows. Other big outflows sufferers included: Delaware, $7.613 billion; and SEI, $6.552 billion.

As a group, the 24 large fund firms brought in an estimated $16.944 billion in net inflows in August 2021, equivalent to 0.34 percent of their combined AUM and accounting for 17.39 percent of overall industry long-term inflows. That compares with $16.278 billion, 0.32 percent of AUM, and 21.12 percent of industry inflows in July 2021.

In the first eight months of 2021, large fund firms brought in an estimated $134.824 billion in net inflows, equivalent to 2.67 percent of their combined AUM and accounting for 15.11 percent of industry inflows. And for the 12-month period ending August 31, 2021, large fund firms brought in $183.072 billion in inflows, equivalent to 3.63 percent of their AUM and accounting for 15.97 percent of industry inflows.

Across the entire industry, the 776 fund firms (up from 774 in July 2021 and 752 in August 2020) tracked by the M* team brought in a combined $97.458 billion in net long-term inflows in August 2021, equivalent to 0.35 percent of industry long-term AUM of $27.175 trillion. That compares with $77.077 billion and $26.898 trillion in July 2021 and $41.403 billion and $21.561 trillion in August 2020.

Active funds brought in an estimated $19.829 billion in net August 2021 inflows, up M/M from $14.693 billion in July 2021 but down Y/Y from $25.255 billion in August 2020. Passive funds brought in an estimated $77.739 billion in August 2021 inflows, up M/M from $57.431 billion and up Y/Y from $16.178 billion.

In the first eight months of 2021, long-term funds brought in an estimated $892.153 billion in net inflows, equivalent to 3.28 percent of long-term fund AUM. And in the 12-month period ending August 31, 2021, long-term funds brought in $1.146073 trillion in net inflows, equivalent to 4.225 of their AUM. 

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