A publicly traded ETF shop kept the inflows lead last month for a second month in a row among midsize fund firms.

Jonathan Laurence "Jono" Steinberg WisdomTree Investments, Inc. CEO

This article draws from Morningstar Direct data on October 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.) More specifically, this article focuses on the 70 firms (down year-over-year from 79 in October 2021) with between $10 billion and $100 billion each in long-term fund AUM.

Midsize firms had $2.396 trillion in combined long-term fund AUM as of October 31, 2022, and they accounted for 10.62 percent of overall industry long-term fund AUM. That compares with $2.42 trillion and 11.24 percent on September 30, 2022, and with $2.969 trillion and 10.68 percent on October 31, 2021.

Ten midsize firms brought in net inflows in October 2022, up month-over-month from nine in September 2022 but down Y/Y from 35 in October 2021.

WisdomTree kept the inflows lead last month, thanks to an estimated $2.068 billion in net October 2022 inflows, up M/M from $1.917 billion in September 2022 and up Y/Y from $1.231 billion in October 2021. Other big October 2022 inflows winners included: Pacer, $1.195 billion (up M/M from $270 million, up Y/Y from $452 million); VanEck, $877 million (up M/M from $1.068 billion in net outflows, up Y/Y from $383 million in net inflows); Rafferty's Direxion, $655 million (down M/M from $1.255 billion, up Y/Y from $959 million in net outflows); and Nationwide $186 million (up MM from $110 million in net outflows, up Y/Y from $16 million in net outflows).

Pacer took the lead proportionately last month, thanks to net October 2022 inflows equivalent to 6.9 percent of its AUM. Other big inflows winners included: WisdomTree, 3.9 percent; Direxion, 2.9 percent; VanEck, 1.7 percent; and Nationwide, 1 percent.

ProShares and ProFunds still lead the 2022 midsize inflows pack so far, thanks to an estimated $13.361 billion in net year-to-date inflows as of October 31. Other big YTD inflows winners included: WisdomTree, $12.405 billion; and Direxion, $10.44 billion.

On the flip side, Macquarie's Delaware took the midsize outflows lead last month, thanks to an estimated $1.558 billion in net October 2022 outflows, up M/M from $1.067 billion in September 2022 but down Y/Y from $1.592 billion in October 2021. Other big October 2022 outflows sufferers included: TCW (including MetWest), $1.399 billion (up M/M from $1.32 billion, down Y/Y from $3.083 billion); DoubleLine, $1.313 billion (down M/M from $1.459 billion, down Y/Y from $1.17 billion in net inflows); Allspring, $1.25 billion (up M/M from $569 million, up Y/Y from $313 million); and GMO, $1.212 billion (up M/M from $392 million, up Y/Y from $374 milllion).

GMO took the outflows lead proportionately last month, thanks to estimated October 2022 outflows equivalent to 5.6 percent of its AUM. Other big outflows sufferers included: Matthews Asia, 5.4 percent; Diamond Hill, 4.9 percent; BBH, 3.1 percent; and Guggenheim (including Rydex), 2.9 percent.

DoubleLine still leads the 2022 midsize outflows pack so far, thanks to an estimated $15.476 billion in net YTD outflows as of October 31. Other big outflows sufferers included: Delaware, $13.107 billion; and TCW, $12.897 billion.

As a group, midsize fund firms suffered an estimated $24.383 billion in net October 2022 outflows, equivalent to 1.02 percent of their combined AUM and accounting for 111.28 percent of overall industry long-term outflows. That compares with $24.875 billion, 1.03 percent of AUM, and 32.4 percent of industry outflows in September 2022, and with $4.502 billion in net inflows, 0.15 percent of AUM, and 5.37 percent of industry inflows in October 20212.

Over the first ten months of 2022, midsize fund firms suffered an estimated $156.224 billion in net outflows. That's equivalent to 6.52 percent of their combined AUM and accounts for 66.62 percent of overall industry long-term outflows.

Across the entire industry, the 787 firms tracked by the M* team (up M/M and Y/Y from 781) suffered an estimated $21.911 billion in net October 2022 outflows, equivalent to 0.1 percent of their combined $22.554 trillion in AUM. That's down M/M from $76.784 billion and 0.36 percent, and down Y/Y from $83.864 billion in net inflows and 0.3 percent of AUM.

Active funds suffered an estimated $101.864 billion in net October 2022 outflows, up M/M from $97.398 billion but down Y/Y from $5.324 billion in net inflows. Passive funds brought in $79.909 billion in net October 2022 inflows, up M/M from $20.732 billion and up Y/Y from $78.71 billion.

As of October 31, long-term funds and ETFs have suffered $231.047 billion in net 2022 outflows. That's equivalent to 1.02 percent of their combined AUM.

Editor's Note: A prior version of this version gave the wrong October 2022 net flows figure for mid-size firms as a group. To confirm, they suffered $24.383 billion in net October 2022 long-term fund and ETF outflows. 

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