MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, January 20, 2022 Despite a Rough Finale, Midsize Inflows Returned In 2021 Midsize fund firms as a group returned to positive flows territory last year, despite a rough December.
Midsize firms had $2.921 trillion in combined long-term fund AUM as of December 31, 2021, and they accounted for 10.4% of of overall industry long-term fund AUM. That compares with $2.784 trillion and 10.2 percent on November 30, 2021, and $2.778 trillion and 11.64 percent on December 31, 2020. 44 midsize firms brought in net long-term inflows in 2021, up from 34 in 2020. Mirae (including Global X) took the lead last year among midsize fund firms, thanks to an estimated $21.385 billion in net 2021 inflows, up from $6.914 billion in 2020. Other big 2021 inflows winners included: KraneShares, $10.952 billion (up from $1.953 billion); ProShares and ProFunds, $10.262 billion (up from $7.53 billion); Ark, $8.587 billion (down from $20.629 billion); and Guggenheim (including Rydex), $8.585 billion (up from $7.384 billion). KraneShares won proportionately last year among midsize firms, thanks to estimated net 2021 inflows equivalent to 86.9 percent of its AUM. Other big 2021 net inflows winners included: Mirare, 47.7 percent; GQG, 33.03 percent; Pacer, 33.89 percent; and Ark, 28.14 percent. Mirae also led the midsize pack in the fourth quarter, with estimated net Q4 2021 inflows of $5.048 billion. Other big Q4 inflows winners included: Northern (including Flexshares), $3.877 billion; and Nationwide, $3.414 billion. Northern took the lead last month, thanks to an estimated $3.519 billion in December inflows. Other big inflows winners included: Amundi, $1.501 billion; and Mirae, $1.34 billion. On the flip side, 2021 was a rough year for Harbor, which suffered an estimated $8.258 billion in net outflows, more than any other midsize fund firm and up from $6.323 billion in 2020. Other big 2021 outflows sufferers included: Voya (including TCM), $6.395 billion (up from $5.977 billion); MassMutual, $5.854 billion (up from $2.7 billion; Putnam, $4.59 billion (down from $4.672 billion); and Lazard, $3.939 billion (up from $3.203 billion). Proportionately, AQR again led the midsize outflows pack last year, sufferening estimated net 2021 outflows equivalent to 25.67 percent of its AUM. Other big 2021 outflows sufferers included: Lazard, 17.11 percent; MassMutual, 15.63 percent; Harbor, 14.75 percent; and Loomis Sayles, 13.85 percent. Ark led the midsize outflows pack in Q4 2021, thanks to an estimated $2.977 billion in net outflows. Other big Q4 outflows sufferers included: Matthews Asia, $1.999 billion; and Federated Hermes, $1.957 billion. DoubleLine took the lead last month thanks to an estimated $1.489 billion in net December 2021 outflows. Other big outflows sufferers included: Ark, $1.357 billion; and Matthews Asia, $1.256 billion. As a group, midsize fund firms brought in $86.011 billion in net inflows in 2021, equivalent to 2.94 percent of their combined AUM and accounting for 7.09 percent of overall industry long-term fund inflows. That's up from $26.834 billion in net 2020 outflows and, equivalent to 0.97 percent of AUM. In Q4 2021, midsize firms suffered an estimated $384 million in net outflows, equivalent to 0.01 percent of their combined AUM. In December alone, midsize firms suffered an estimated $6.909 billion in net outflows, equivalent to 0.24 percent of their combined AUM. That's down from $2.415 billion of November 2021 inflows, equivalent to 0.09 percent of AUM, and $15.322 billion of December 2020 inflows, equivalent to 0.55 percent of AUM. Across the entire industry, the 799 fund firms tracked by the M* team (up from 781 in November 2021 and up from 751 in December 20202) brought in an estimated $1.21309 trillion in net inflows, equivalent to 4.33 percent of overall long-term fund AUM of $28.084 trillion on December 31, 2021. That's up from $220.218 billion, 0.92 percent, and $23.862 trillion in AUM in 2020. In Q4 2021, the overall industry brought in $250.128 billion in net long-term fund inflows, equivalent to 0.89 percent overall long-term fund AUM. In December 2021 alone, the overall industry brought in $87.633 billion in net long-term fund inflows, equivalent to 0.31 percent of long-term fund AUM. That's up from $80.955 billion and 0.3 percent in November 2021, but it's down from $96.953 billion and 0.41 percent in December 2020. Passive funds brought in $95.932 billion in net long-term fund inflows in December 2021, up from $83.006 billion in November 2021 and up from $59.958 billion in December 2020. On the flip side, active funds suffered $8.299 billion in December 2021 outflows, up from $2.051 billion in November 2021 and down from $36.995 billion in December 2020 inflows. Printed from: MFWire.com/story.asp?s=63909 Copyright 2022, InvestmentWires, Inc. All Rights Reserved |
