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Rating:GQG Leads, Yet Industry Outflows Per Fund Rise 54 Percent Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 26, 2022

GQG Leads, Yet Industry Outflows Per Fund Rise 54 Percent

Reported by Neil Anderson, Managing Editor

A global growth equity boutique took the inflows lead last month proportionately as industry outflows rose by 54 percent.

Rajiv Jain
GQG Partners
Co-Founder, Chairman, Chief Investment Officer
This article draws from Morningstar Direct data on June 2022 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.)

So far in 2022, Edward Jones' Bridge Builder leads the inflows pack, thanks to an estimated $669 million per fund in net year-to-date inflows as of June 30. Other big YTD inflows winners included: Advanced Series Trust, $662 million per fund; and Horizon Kinetics, $585 million per fund.

Last quarter, Advanced Series Trust led the pack thanks to an estimated $662 million per fund in net inflows for the second quarter of 2022. Other big Q2 2022 inflows winners included: Horizon Kinetics, $202 million per fund; and Bridge Builder, $189 million per fund.

GQG took the lead last month, thanks to an estimated $42 million per fund in net June 2022 inflows, down month-over-month from $63 million per fund in May 2022 but up year-over-year from $19 million per fund in June 2021. Other big June 2022 inflows winners included: KraneShares, $41 million per fund (up M/M from $9 million per fund, up Y/Y from $35 million per fund); Mercer, $41 million per fund (up M/M from $14 million per fund, up Y/Y from $16 million per fund in net outflows); Horizon Kinetics, $36 million per fund (up M/M from $32 million per fund, down Y/Y from $87 million per fund); and Nia Impact Capital, $36 million per fund (up M/M from negligible inflows).

On the flip side, Primecap leads the 2022 outflows pack so far, thanks to an estimated $747 million per fund in net YTD outflows as of June 30. Other big YTD outflows sufferers included: River Canyon, $369 million per fund; and Edgewood, $312 million per fund.

Edgewood led the outflows pack last quarter, thanks to an estimated $563 million per fund in net Q2 2022 outflows. Other big Q2 2022 outflows sufferers included: Primecap, $401 million per fund; and Dodge & Cox, $299 million per fund.

Edgewood also took the outflows lead last month, thanks to an estimated $220 million per fund in net June 2022 outflows, down M/M from $147 million per fund in Q2 2022 and down Y/Y from $66 million per fund in June 2021 inflows. Other big June 2022 outflows sufferers included: TransWestern, $119 million per fund (up M/M from $1 million per fund, down Y/Y from $11 million per fund in net inflows); Primecap, $87 million per fund (down M/M from $189 million per fund, up Y/Y from $69 million per fund); Acruence, $67 million per fund (down M/M from $1 million per fund in net inflows, down Y/Y from $13 million per fund in net inflows); and Dodge & Cox, $63 million per fund (down M/M from $71 million per fund, down Y/Y from $12 million per fund in net inflows).

The whole long-term U.S. mutual fund and ETF industry (excluding money-market funds and funds of funds) has suffered an estimated $2.538 million per fund in net 2022 outflows as of June 30. In Q2 2022, the industry suffered $4.578 million per fund in net outflows. And in June 2022, the industry suffered $1.433 million per fund in net outflows, up M/M from $930,000 per fund but down Y/Y from $2.528 million per fund in net inflows. 

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