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Rating:Credit Suisse and ETC Had a Big Month Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 3, 2017

Credit Suisse and ETC Had a Big Month

Reported by Neil Anderson, Managing Editor

In terms of flows, Credit Suisse and Exchange Traded Concepts both had a big August.

The fund flow information within this article was formulated from the exclusive data provided for MFWire by Alina Lamy, senior analyst of quantitative research at Morningstar.

Credit Suisse brought in an estimated $506 million in net inflows in August, more than any other fund family with between $1 billion and $10 billion in AUM. Other top inflow shops in that AUM range included: Global X, $320 million; ETC, $284 million; KraneShares, $197 million; and Meridian, $158 million.

Proportionately, ETC was on top of the $1 billion to $10 billion pack in August, with inflows equivalent to 20.51 percent of its AUM. Other top inflow shops in that range, on a proportional basis, included: KraneShares, 17.06 percent; AlphaCentric, 12.98 percent; Muzinich, 11.01 percent; and Chiron, 10.02 percent.

On the flip side, August was a rough month for Guggenheim's Rydex, which suffered $197 million in estimated net outflows, more than any other fund family in the $1 billion to $10 billion range. Other big sufferers last month included: Manning & Napier, $151 million in net outflows; Stone Harbor, $145 million; Sentinel, $138 million; and LSV, $131 million.

Proportionately, it was Hodges that suffered the most among fund families in the $1 billion to $10 billion range, with outflows equivalent to 6.44 percent of its AUM. Other big sufferers proportionately included: Stone Harbor, 5.84 percent; Brookfield, 5.41 percent; LoCorr, 5.39 percent; and LSV, 5.33 percent.

As a group, fund families with between $1 billion and $10 billion in AUM suffered $88 million in net outflows, equivalent to about 0.06 percent of their combined AUM.

Last week M* released a report about industrywide flows, and MFWire highlighted the biggest winners and losers among the large fund firms. Active, long-term mutual funds suffered $7.174 billion in net outflows, while passive funds brought in $37.149 billion net and money market funds brought in $74.801 billion. Among active, long-term funds, taxable bond funds, international equity funds, and muni bond funds all brought in billions, while U.S. equity funds, allocation funds, and sector equity funds all saw billions flow out.  

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