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

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

Rating:North Slope Wins With $156MM Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, March 22, 2023

North Slope Wins With $156MM

Reported by Neil Anderson, Managing Editor

A white label shop took the lead last month among the smallest fund firms as the group's inflows dipped a bit.

This article draws from Morningstar Direct data on February 2023 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 518 firms (down month-over-month and year-over-year from 519 in January 2023 and February 2022) with less than $1 billion each in long-term fund AUM.

Micro fund firms had $99 billion in total, long-term AUM across 2,753 funds as of February 28, 2023, accounting for 0.42 percent of overall industry long-term fund AUM. That compares with $100 billion, 2,730 funds, and 0.41 percent on January 31, 2023, and with $94 billion and 0.36 percent on February 28, 2022.

236 of those micro fund firms brought in net inflows in February 2023. That's down M/M from 248 in January 2023 and down Y/Y from 279 in February 2022.

Oaktree, $80 million (up M/M from negligible outflows, up Y/Y from $5 million in net inflows); Ambrus, $63 million (roughly no change M/M); BondBloxx, $54 million (down M/M from $137 million, up Y/Y from $12 million); and CrossingBridge, $51 million (up M/M from $11 million, down Y/Y from $171 million).

After the first two months of 2023, North Slope led the year-to-date inflows pack, thanks to an estimated $229 million in net inflows. Other big inflows winners included: BondBloxx, $191 million; and Kovitz, $154 million.

On the flip side, Liberty Street took the outflows lead last month, thanks to an estimated $88 million in net February 2023 outflows, up M/M from $5 million in January 2023 but down Y/Y from $169 million in February 2022. Other big February 2023 outflows sufferers included: Callahan's Trust for Credit Unions, $55 million (up M/M from $54 million, down Y/Y from $500 million); Muhlenkamp, $40 million (down M/M from $3 million in net inflows, down Y/Y from $4 million in net inflows); Spyglass, $40 million (down M/M from $4 million in net inflows, down Y/Y from $79 million in net outflows); and Ashmore, $35 million (up M/M from $3 million, down Y/Y from $72 million).

After the first two months of 2023, Trust for Credit Unions led the YTD outflows pack, thanks to an estimated $109 million in net outflows. Other big YTD outflows sufferers included: Liberty Street, $93 million; and Overlay Shares, $76 million.

As a group, micro firms brought in $638 million in net February 2023 inflows, equivalent to 0.65 percent of their combined AUM. That compares with $696 million and 0.69 percent in January 2023, and with $1.18 billion and 1.25 percent in February 2022.

After the first two months of 2023, micro firms had $1.197 billion in YTD inflows. That's equivalent to 1.21 percent of their combined AUM and accounts for 2.9 percent of overall industry long-term inflows.

Across the entire industry, the 782 firms tracked by the M* team (down M/M from 783 and down Y/Y from 795) suffered an estimated $3.245 billion in net February 2023 outflows, equivalent to 0.01 percent of their combined long-term fund AUM of $23.493 trillion. That compares with $42.682 billion in net inflows and 0.18 percent of industry AUM in January 2023, and with $47.85 billion in net inflows and 0.18 percent of AUM in February 2022.

Passive funds brought in $4.034 billion in net long-term fund inflows in February 2023, down M/M from $47.436 billion in January 2023 and down Y/Y from $80.08 billion in February 2022 outflows.

The entire long-term fund industry brought in $41.317 billion in net inflows in the first two months of 2023. That's equivalent to 0.18 percent of the industry's combined long-term fund 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
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
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. WE Pacific NW and CFA Society Seattle Welcome Mixer, September 22
  2. Havener Capital's Boutique Week 2023, Sep 26-29
  3. FT's Future of Asset Management North America, Sep 27-28
  4. MFDF webinar - Introduction to Retail Private Markets Funds: Structures to Access Private Equity, Private Credit, Infrastructure and Real Estate Investments, September 27
  5. Women In Finance Fall Mix n' Mingle Happy Hour, September 28
  6. Expect Miracles Atlanta Coast Classic, October 2
  7. MFDF webinar - Exchange Traded Funds: A Market Update for Fund Directors, October 4
  8. 4th Annual ETFGI Global ETFs Insights Summit - United States, Oct 4-5
  9. 8th Annual FUSE Forum, October 5
  10. ICI & GCMFA Networking Reception, October 10
  11. 2023 MMI Annual Conference, Oct 11-13
  12. 2023 IDC Fund Directors Conference, Oct 11-13
  13. WE South - ETF Conversations, October 17
  14. IMEA Star Awards Celebration, October 17
  15. IMEA Marketing Summit, Oct 17-18
  16. MFDF Director Discussion Series - Open Forum via Zoom, October 23
  17. ICI 2023 Securities Law Developments Conference - Day 1, October 24
  18. Schwab Impact 2023, Oct 24-26
  19. 2023 MMI Legal & Compliance Seminar, October 26
  20. ICI 2023 Securities Law Developments Conference - Day 2, October 26
  21. IMEA DE&I Roundtable, November 1
  22. IMEA Leadership Summit, Nov 1-2
  23. MFDF Director Discussion Series - Open Forum (Los Angeles), November 1
  24. MFDF Director Discussion Series - Open Forum (San Francisco), November 2
  25. Expect Miracles In Boston, November 2
  26. WIPN Nebraska - 3rd Annual Collegiate Career Exploration Event, November 2




©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use