A B-D's multimanager, subadvised mutual fund arm kept the lead last month proportionately, even as industry inflows turned negative.

Ryan Timothy Robson Edward Jones / Olive Street Investment Advisers, LLC Principal, Client Strategy Group / President

This article draws from Morningstar Direct data on April 2022 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.)

Edward Jones' Bridge Builder kept the lead last month, thanks to an estimated $234 million per fund in net April 2022 inflows, down month-over-month from $453 million in March 2022 but up year-over-year from $125 million in April 2021. Other big April 2022 inflows winners included: Horizon Kinetics, $134 million per fund (down M/M from $342 million, down Y/Y from $208 million); Goldman Sachs, $101 million per fund (up M/M from $1 million in net outflows, up Y/Y from $2 million); FolioBeyond, $44 million per fund (up M/M from $7 million); and Perpetual, $44 million per fund.

After the first four months of 2022, Bridge Builder the inflows pack with an estimated $894 million per fund in net year-to-date inflows. Other YTD inflows winners included: Horizon Kinetics, $517 million per fund; and Charles Schwab, $130 million per fund.

On the flip side, Edgewood took the outflows lead last month, thanks to an estimated $196 million per fund in net April 2022 outflows, up M/M from $95 million in March 2021 and up Y/Y from $22 million per fund in April 2022. Other big April 2022 outflows sufferers included: Dodge & Cox, $165 million per fund (up M/M from $22 million, down Y/Y from $110 million in net inflows); Primecap, $125 million per fund (up M/M from $111 million, up Y/Y from $33 million); River Canyon, $117 million per fund (up M/M from $375 million, down Y/y from $58 million in net inflows); and Phaeacian, $65 million per fund (up M/M from $6 million, down Y/Y from $1 million in net inflows).

As of April 30, Primecap led the outflows pack thanks to an estimated $472 million per fund in net YTD outflows. Other big outflows sufferers included: River Canyon, $265 million per fund; and Independent Franchise Partners, $223 million per fund.

The whole long-term U.S. mutual fund and ETF industry (excluding money-market funds and funds of funds) suffered an estimated $2.12 million per fund in net April 2022 outflows, down M/M from $732,000 per fund in March 2022 and down Y/Y from $3.04 million per fund in April 2021 inflows. In the first four months of 2021, funds suffered an estimated $64,000 per fund in net outflows. 

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