A Philadelphia area boutique regained the inflows lead among the smallest fund firms last month, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on July 2024 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 509 firms with fewer than ten long-term mutual funds and ETFs each.

Alpha Architect took the lead last month, thanks to an estimated $475 million in net July 2024 inflows, up by $248 million month-over-month from June 2024 and up by $375 million year-over-year from July 2023. Other big July 2024 inflows winners included: Bitwise, $350 million (up by $294 million M/M and up by $350 million Y/Y); Volatility Shares, $308 million (up by $37 million M/M, up by $19 million Y/Y); Neos, $306 million (up by $69 million M/M, up by $218 million Y/Y); and 3fourteen, $281 million.

3fourteen also appears to be this month's sole newcomer.

As of July 31, Column Funds (from Northwestern Mutual's Mason Street Advisors) led the pack for the trailing twelve months with an estimated $3.978 billion in net inflows. Other big TTM inflows winners included: Alpha Architect, $3.56 billion; and 21Shares, $2.673 billion.

On the flip side, Nuance took the outflows lead last month, thanks to an estimated $466 million in net July 2024 outflows, up by $299 million M/M from June 2024 and up by $437 million Y/Y from July 2023. Other big July 2024 outflows sufferers included: Champlain, $422 million (up by $402 million M/M, up by $414 million Y/Y); Ark, $419 million (down by $66 million M/M, and a $799 million net flows drop Y/Y); Primecap, $330 million (up by $105 million M/M, up by $122 million Y/Y); and Akre, $316 million (up by $157 million M/M, up by $205 million Y/Y).

As of July 31, Ark led the TTM outflows pack thanks to an estimated $4.069 billion in net outflows. Other big TTM outflows sufferers included: Primecap, $3.865 billion; and Akre, $3.092 billion.

As a group, small fund firms brought in $1.2 billion in net July 2024 inflows, and as of July 31 they had $311 billion in total AUM across 1,483 funds. That compares with $110 million in net inflows, $302 billion in AUM, and 1,479 funds in June 2024.

Small fund firms accounted for 1.5 percent of industry inflows last month, and they accounted for 1.1 percent of industry AUM and 3.4 percent of industry funds.

As of July 31, small fund firms had $9.073 billion in net TTM inflows.

Across the whole industry, the 795 firms (up by two M/M and up by 16 Y/Y) tracked by the M* team brought in about $82.936 billion in net July 2024 inflows. The industry ended July 2024 with $29.447 trillion in AUM across 43,102 funds. (That's up by $719 billion and by 288 funds M/M, and by $3.697 trillion and 935 funds Y/Y.)

As of July 31, the industry brought in $346.371 billion in net TTM inflows into long-term funds. 

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