MutualFundWire.com: A Subadvised Shop Rebuilds Its Lead

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Tuesday, June 23, 2020

A Subadvised Shop Rebuilds Its Lead

A big B-D's subadvised mutual fund family led the pack again last month, pound for pound.

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

This article draws from Morningstar Direct data on U.S. open-end mutual fund and ETF flows, excluding money market funds and funds of funds, from May 2020.

Edward Jones' Bridge Builder regained the lead last month after a three-month gap, thanks to estimated net May inflows of $500 million per fund, up from $93 million per fund in net April outflows. Other big May inflows winners included: Edgewood, $205 million per fund (down from $381 million per fund); Axonic, $148 million per fund (down from $185 million per fund); Grayscale, $116 million per fund (up from $66 million per fund); and Ark, $100 million per fund (up from $85 million per fund).

On the flip side, last month was another rough one for Primecap, which suffered an estimated $465 million per fund in net May outflows, up from $426 million per fund in April. Other big May outflows sufferers included: Dodge & Cox, $351 million per fund (up from $260 million per fund); Causeway, $68 million per fund (up from $13 million per fund); Tuttle, $63 million per fund (up from $1 million per fund); and IVA, $62 million per fund (down from $68 million per fund).

The whole U.S. mutual fund and ETF industry, excluding money market funds and funds of funds, brought in an estimated $796,000 per fund in net inflows in May, up from $314,000 per fund in April.

Printed from: MFWire.com/story.asp?s=61500

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