For the first time this year, Vanguard [profile] isn't number one. But not everything changed; Pimco [profile] is still taking hits.

Jeffrey Gundlach DoubleLine Capital Chief Executive Officer, Chief Investment Officer

Per Morningstar's monthly update on open-end mutual fund and ETF flows, BlackRock [profile] was at the top of the pack in September, bringing in an estimated $12.86 billion in net inflows. Vanguard, which had been number one for the first eight months of 2015, came in second with $9.136 billion in net inflows. Rounding out the top five were: DoubleLine [profile], $1.087 billion; J.P. Morgan [profile], $1.033 billion; and John Hancock [profile], $721 million.

On a percentage basis, DoubleLine was last month's big winner; Jeffrey Gundlach and his team netted inflows that amounted to 1.842 percent of their AUM. BlackRock's big month amounted to net inflows of 1.319 percent of AUM. Hancock brought in 0.6110 percent, J.P. Morgan brought in 0.3913 percent, and Vanguard brought in 0.3355 percent.

A year after Bill Gross' infamous departure, Pimco suffered another month at the top of the outflows heap, with $5.417 billion in net ouflows. Other big outflow sufferers include: Franklin Templeton [profile], $4.792 billion; Dimensional Fund Advisors [profile], $2.343 billion; T. Rowe Price [profile], $1.708 billion; and Columbia [profile], $1.560 billion.

Yet the outflow picture looks very different in percentage terms. Here the big September bleeder was WisdomTree [profile], which suffered outflows equivalent to 2.542 percent of its AUM. Others taking big hits include: Ivy Funds [profile] 1.958 percent; Pimco, 1.709 percent; Natixis [profile], 1.383 percent; and Goldman Sachs [profile], 1.236 percent.

Category-wise, the only active category to have overall net inflows was alternative funds, which brought in $719 million in net inflows in September. And passive funds brought in $18.737 billion in net inflows.

Active long-term funds, alt funds notwithstanding, suffered $31.031 billion in net outflows last month, nearly twice the money that flowed into passive funds. And the money didn't shift from long-term to short-term; money market funds suffered $7.534 billion in net outflows.

Going sector by sector, active taxable bond funds were hit hard again, suffering $14.334 billion in net outflows. $8.518 billion flowed out of active U.S. equity funds, $5.832 billion out of active allocation funds, $1.842 billion out of sector equity funds, $726 million out of international equity funds, $459 million out of municipal bond funds, and $39 million out of commodities funds. 

Edited by: Neil Anderson, Managing Editor


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