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

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

Rating:Micro Inflows Jump 73 Percent to $1.26B Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 22, 2021

Micro Inflows Jump 73 Percent to $1.26B

Reported by Neil Anderson, Managing Editor

A fixed income boutique took the lead last month among the smallest fund firms as the group's inflows and marketshare both rose.

Joshua Stephan "Josh" Friedman
Canyon Partners
Co-Founder, Co-Chairman, Co-CEO
This article draws from Morningstar Direct data on August 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.) More specifically, this article focuses on the 496 firms (up from 495 in August 2020) with less than $1 billion each in fund AUM.

Micro fund firms had $97 billion in total long-term AUM as of August 31, 2021, accounting for 0.36 percent of overall industry long-term fund AUM. That compares with $95 billion and 0.35 percent on July 31, 2021, and with $93 billion and 0.43 percent on August 31, 2020.

258 of those micro fund firms brought in net inflows last month, down from 260 in July 2021 but up from 215 in August 2020.

Canyon Partners' River Canyon took the lead last month among micro fund firms, thanks to an estimated $228 million in net August 2021 inflows, up month-over-month from $13 million in July 2021 and up year-over-year from $10 million in August 2020. Other big August 2021 inflows winners included: CrossingBridge, $105 million (up M/M from $43 million, up Y/Y from $6 million); Howard Capital Management, $104 million (up M/M from $9 million, up Y/Y from $32 million); Microsectors, $77 million (up M/M from $23 million, up Y/Y from $30 million); and Hanlon, $67 million (up M/M from $3 million in net outflows, up Y/Y from $4 million in net outflows).

Last month included one apparent newcomer: the World Funds Trust.

Horizon Kinetics led the micro fund firm inflows pack year-to-date as of August 31, 2021, thanks to an estimated $641 million in net inflows. Other big YTD inflows winners included: River Canyon, $591 million; and Sprucegrove Investment Management, $434 million.

The same three micro firms led the pack for the 12-month period ending August 31, 2021. River Canyon brought in an estimated $648 million in net inflows, Horizon Kinetics brought in $641 million, and Sprucegrove brought in $434 million.

On the flip side, last month was a rough one for Schroder, which led the micro fund firm outflows pack thanks to an estimated $63 million in net August 2021 outflows, up M/M from $3 million in July 2021 and up Y/Y from $6 million in August 2020. Other big August 2021 outflows sufferers included: Bramshill, $54 million (down M/M from $22 million in net inflows, down Y/Y from $4 million in net inflows); Aegis, $50 million (up M/M from $14 million, up Y/Y from $1 million); Renaissance, $48 million (down M/M from $62 million, down Y/Y from $41 million in net inflows); and Berkshire, $29 million (down M/M from $32 million, down Y/Y from $15 million in net inflows).

Sunbridge Capital Partners led the micro fund firm outflows pack YTD as of August 31, 2021, thanks to an estimated $1.673 billion in net outflows. Other big YTD outflows sufferers included: Muzinich, $402 million; and Schroder, $398 million.

Sunbridge also led the micro outflows pack for the 12-month period ending August 31, 2021, thanks to an estimated $1.687 billion in net outflows. Other big outflows sufferers included: Phaeacian, $404 million; and Muzinich, $388 million.

As a group, micro fund firms brought in an estimated $1.26 billion in net August 2021 inflows, equivalent to about 1.3 percent of their combined AUM and accounting for 1.29 percent of overall industry long-term inflows. That compares with $729 million, 0.76 percent of AUM, and 0.95 percent of industry inflows in July 2021, and $553 million, 0.6 percent of AUM, and 1.3 percent of industry inflows in August 2020.

In the first eight months of 2021, micro firms brought in an estimated $5.99 billion in net inflows. That's equivalent to 6.18 percent of their combined AUM and accounted for 0.67 percent of overall industry long-term inflows.

For the 12-month period ending August 31, 2021, micro firms brought in an estimated $5.625 billion in net inflows. That's equivalent to 5.8 percent of their combined AUM and accounted for 0.49 percent of overall industry long-term 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. 

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: Q2Q1
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. 2022 ICI Leadership Summit, May 25-26
  2. ALFI Roadshow to New York, May 25
  3. 2022 IDC Fund Directors Workshop, May 26
  4. Irish Funds Annual Global Funds Conference 2022, May 30-31
  5. WealthManagement Edge, May 31 - June 3
  6. MFDF 2022 Fund Governance and Regulatory Insights Conference, Jun 8-9
  7. 28th annual Expect Miracles East Coast Classic, June 9
  8. 2022 Sohn Investment Conference, June 9
  9. IDC webinar - Cybersecurity for Fund Boards: The Current Landscape, June 9
  10. MMI webinar - Driving Business Value with Artificial Intelligence & Data, June 15
  11. MFDF webinar - Key Takeaways From Morningstar's 2021 Annual Fund Fee Study, June 16
  12. MFDF Director Discussion Series - Open Forum (Chicago), June 21
  13. 2022 MMI Emerging Asset Managers Forum, June 23
  14. MFDF In Focus: Capitol Hill, A Conversation with Congressman Bryan Steil, June 28
  15. Financial Planning INVEST, Jun 28-29
  16. MFDF webinar - Differentiating Mutual-Fund-to-ETF Conversions, July 19
  17. MFDF Director Discussion Series - Open Forum (New York), July 20
  18. 2022 MMI Distribution Leadership Forum, Jul 20-21
  19. MFDF webinar - Fund Boards' Oversight of Investment Performance, July 28
  20. MFDF webinar - Performance, Perception and Manager Selection, September 14
  21. 2022 ICI Tax and Accounting Conference, Sep 18-21
  22. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  23. Nicsa Fearless Leadership Symposium, Oct 6-7
  24. 2022 MMI Annual Conference, Oct 19-21
  25. 2022 IDC Fund Directors Conference, Oct 24-26
  26. 18th annual Expect Miracles Wine & Spirits Event, October 27




©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