A Southwestern fund firm took the inflows lead last month among midsized fund firms, according to the latest data from the folks at a publicly traded investment research firm.

Sarah H. Ketterer Causeway Capital Management LLC CEO

This article draws from Morningstar Direct data on August 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 209 firms with between 10 and 99 long-term mutual funds and ETFs each.

Causeway pulled ahead of the pack last month, thanks to an estimated $1.185 billion in net August 2024 inflows, up by $644 million month-over-month from July 2024 and up by $1.152 billion year-over-year from August 2023. Other big August 2024 inflows winners included: Edward Jones' Bridge Builder, $1.002 billion (down by $41 million M/M, up by $405 million Y/Y); Dodge & Cox, $982 million (down by $20 million M/M, up by $440 million Y/Y); Baird (including Strategas), $903 million (down by $491 million M/M, up by $334 million Y/Y); and GQG, $576 million (down by $238 million M/M, up by $139 million Y/Y).

As of August 31, 2024, Baird led the pack with $15.029 billion in net trailing twelve months inflows. Other big TTM inflows winners included: Pacer, $14.767 billion; and Dodge & Cox, $9.696 billion.

On the flip side, Grayscale led the outflows pack for a third consecutive month, thanks to an estimated $1.121 billion in net August 2024 outflows, down by $1.037 billion M/M from July 2024 but up by $1.121 billion Y/Y from August 2023. Other big August 2024 outflows sufferers included: Harding Loevner, $935 million (up by $177 million M/M, up by $760 million Y/Y); Baron, $626 million (down by $20 million M/M, up by $554 million Y/Y); Glenmede, $556 million (up by $518 million M/M, up by $491 million Y/Y); and Parnassus, $407 million (down by $28 million M/M, up by $216 million Y/Y).

As of August 31, 2024, Grayscale also led the pack with $21.685 billion in net TTM outflows. Other big outflows sufferers in that time period included: DoubleLine, $6.708 billion; and Parnassus, $6.612 billion.

As a group, midsize firms brought in $2.355 billion in August 2024 inflows, a $3.139-billion net flows improvement over July. Midsize firms ended August with $1.703 trillon in combined AUM across 5,912 funds, compared with $1.829 trillion and 6,070 funds at the end of July.

Midsize firms accounted for 5.7 percent of industry long-term fund AUM and 13.8 percent of long-term funds as of August 31. Those firms also accounted for 9 percent of industry inflows.

As of August 31, midsize firms brought in $5.336 billion in net TTM inflows.

Across the whole industry, the 791 firms (down by four M/M but up by 11 Y/Y) tracked by the M* team brought in about $26.099 billion in net August 2024 inflows, and the industry ended the month with $29.993 trillion in AUM acoss 42,891 funds. That compares with $82.936 billion in net inflows, $29.447 trillion in AUM, and 43,102 funds in July 2024, and with $24.468 billion in net outflows, $25.211 trillion in AUM, and 42,226 funds in August 2023.

As of August 31, 2024, the industry brought in $398.051 billion in net TTM inflows into long-term funds. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE