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Rating:Net Active Flows Improve By $26B Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 26, 2022

Net Active Flows Improve By $26B

Reported by Neil Anderson, Managing Editor

Net active fund flows improved by more than $25.7 billion last month, even as net passive flows worsened by about $7.9 billion.

Mary Callahan Erdoes
J.P. Morgan
CEO of Asset and Wealth Management
This article draws from Morningstar Direct data on August 2022 open-end mutual fund and ETFs flows, excluding money-market funds and funds of funds. The data also excludes other asset management products, likes SMAs and CITs.

J.P. Morgan (including Six Circles) took the lead last month on the active side, thanks to an estimated $3.751 billion in net August 2022 active inflows, up month-over-month from $3.751 billion in July 2022 outflows and up year-over-year from $3.63 billion in August 2021 inflows. Other big August 2022 active inflows winners included: DFA, $1.429 billion (up M/M from $797 million, up Y/Y from $25 million in net outflows); Baird (including Strategas), $1.25 billion (up M/M from $690 million in net outflows, down Y/Y from $1.736 billion); American Century (including Avantis), $800 million (up M/M from $323 million, up Y/Y from $35 million); and First Trust, $652 million, up M/M from $531 million, up Y/Y from $549 million.

Vanguard took the lead on the passive side last month, thanks to an estimated $19.914 billion in net August 2022 passive inflows, up M/M from $14.38 billion in July 2022 but down Y/Y from $20.666 billion in August 2021. Other big August 2022 inflows winners included: BlackRock, $6.397 billion (down M/M from $18.019 billion, down Y/Y from $19.749 billion); SSGA, $3.661 billion (up M/M from $4.441 billion in net outflows, down Y/Y from $12.475 billion); Charles Schwab, $2.924 billion (down M/M from $4.642 billion, down Y/Y from $3.05 billion); and ProShares and ProFunds, $1.439 billion (down M/M from $2.861 billion, up Y/Y from $495 million).

On the flip side, last month was another rough one for T. Rowe Price's active funds, which kept the active outflows lead for a second month in a row, thanks to an esteimated $4.465 billion in net August 2022 active outflows, down M/M from $6.916 billion in July 2022 but up Y/Y from $1.18 billion in August 2021. Other big August 2022 active outflows sufferers included: Franklin Templeton, $4.311 billion (up M/M from $2.609 billion, up Y/Y from $735 million; Fidelity, $3.229 billion (down M/M from $5.729 billion, up Y/Y from $785 million); BlackRock, $2.73 billion (up M/M from $1.1634 billion, down Y/Y from $2.785 billion); and Vanguard, $2.42 billion (down M/M from $4.776 billion, down Y/Y from $3.355 billion).

J.P. Morgan took the outflows lead on the passive side, thanks to an estimated $3.048 billion in net August 2022 passive outflows, down M/M from $592 million in July 2022 inflows and down Y/Y from $159 millon in August 2021 inflows. Other big August 2022 passive outflows sufferers included: KraneShares, $653 million (up M/M from $369 million, down Y/Y from $1.721 billion in net inflows); VanEck, $596 million (up M/M from $518 million, up Y/Y from $264 million); DWS (including Xtrackers), $424 million (up M/M from $77 million, up Y/Y from $415 million in net inflows); and Northern Trust (including Flexshares), $366 million (up M/M from $283 million, down Y/Y from $67 million in net inflows).

Overall, the 729 active fund firms tracked by the M* team up M/ M from 728 and up Y/Y from 714) suffered an estimated $30.062 billion in net August 2022 outlfows, down M/M from $58.766 billion in July 2022 and down Y/Y from $19.829 billion in August 2021. 312 firms gained net inflows in August 2022, up M/M from 288 but down Y/Y from 382.

The 158 passive fund firms tracked by the M* team (up M/M from 157, up Y/Y from 152) brought in an estimated $37.845 billion in August 2022 inflows, down M/M from $45.732 billion in July 2022 and down Y/Y from $77.739 billion in August 2021. 74 firms gained net passive inflows last month, up M/M from 72 but down Y/Y from 79. 

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