MutualFundWire.com
The insiders' edge for 40 Act industry executives!
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Wednesday, July 27, 2022 Passive Inflows Fall By $42B; Active Outflows Fall By $19B Active funds' outflows fell by about $19 billion last month, while passive funds' inflows fell by about $42 billion. Net flows on both sides are also way down year-over-year. This article draws from Morningstar Direct data on June 2022 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. The data also excludes other asset management products, like SMAs and CITs. Prudential's PGIM took the lead last month on the active side, thanks to an estimated $3.119 billion in net June 2022 active inflows, up month-over-month from $3.038 billion in net active outflows in May 2022 and up Y/Y from $860 million in June 2021. Other big June 2022 active inflows winners included: GQG, $625 million (down M/M from $939 million, up Y/Y from $279 million); Innovator, $412 million (down M/M from $572 million, up Y/Y from $129 million); Mercer, $366 million (up M/M from $130 million, up Y/Y from $112 million in net outflows); and American Century (including Avantis), $354 million (down M/M from $621 million, up Y/Y from $84 million). BlackRock (including iShares) kept the lead on the passive side last month for a second month in a row, thanks to an estimated $15.812 billion in net June 2022 passive inflows, down M/M from $34.14 billion in May 2022 and down Y/Y from $17.263 billion in June 2021. Other big June 2022 passive inflows winners included: Vanguard, $12.189 billion (down M/M from $16.439 billion, down Y/y from $21.562 billion); Fidelity, $4.752 billion (down M/M from $7.104 billion, down Y/Y from $14.92 billion); ProShares and ProFunds, $1.707 billion (down M/M from $1.715 billion, up Y/Y from $461 million in net outflows); and Charles Schwab, $1.427 billion (down M/M from $2.388 billion, down Y/Y from $4.008 billion). On the flip side, last month was another rough one for Vanguard's active funds, which kept the active outflows lead for a fifth month in a row thanks to an estimated $8.415 billion in net June 2022 active outflows, down M/M from $12.228 billion in May 2022 and down Y/Y from $3.609 billion in June 2021 inflows. Other big June 2022 active outflows sufferers included: Fidelity, $7.456 billion (down M/M from $8.388 billion, down Y/Y from $1.043 billion in net inflows); Pimco, $6.791 billion (up M/M from $5.757 billion, down Y/Y from $735 million in net inflows); Capital Group's American Funds, $5.877 billion (down M/M from $7.158 billion, down Y/Y from $448 million in net inflows); and Franklin Templeton, $5.614 billion (down M/M from $6.516 billion, down Y/Y from $695 million in net inflows). SSGA took the outflows lead on the passive side last month, thanks to an estimated $5.996 billion in net June 2022 passive outflows, down M/M from $8.059 billion in May 2022 passive inflows and down Y/Y from $10.598 billion in June 2021 passive inflows. Other big June 2022 passive outflows sufferers included: J.P. Morgan (including Six Circles), $3.008 billion (up M/M from $446 million, down Y/Y from $203 million in net inflows); VanEck, $1.606 billion (up M/M from $1.225 billion, down Y/Y from $2.499 billion in net inflows); T. Rowe Price, $793 million (down M/M from $1.559 billion, up Y/Y from $697 million); and First Trust, $695 million (up M/M from $164 million, down Y/Y from $1.388 billion in net inflows). Overall, the 731 active fund firms tracked by the M* team (up M/M from 724, up Y/Y from 703) suffered an estimated $90.45 billion in net active outflows in June 2022, down M/M from $109.837 billion in May 2022 and down Y/Y from $24.587 billion in June 2021 inflows. 257 firms gained net active inflows in June 2022, down M/M from 266 and down Y/Y from 401. The 159 passive fund firms tracked by the M* team (down M/M from 161, up Y/Y from 148) brought in an estimated $29.219 billion in net June 2022 inflows, down M/M from $70.729 billion in May 2022 and down Y/Y from $80.917 billion in June 2021. 74 firms gained net passive inflows last month, up M/M from 72 but down Y/Y from 94. Printed from: MFWire.com/story.asp?s=64685 Copyright 2022, InvestmentWires, Inc. All Rights Reserved |