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 |
|
Monday, May 22, 2023 Bridge Builder Repeats, Netting $58MM Per Fund A B-D's multi-manager mutual fund arm kept the inflows lead proportionately last month, even as the industry returned to overall inflows. This article draws from Morningstar Direct data on April 2023 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.) Edward Jones' Bridge Builder kept the lead for a second month in a row last month, thanks to an estimated $58 million per fund in net inflows, down month-over-month from $214 million per fund in March 2023 and down year-over-year from $234 million per fund in April 2022. Other big April 2023 inflows winners included: Mercer, $51 million per fund (up M/M from $6 million per fund, up Y/Y from $13 million per fund in net outflows); River Canyon, $43 million per fund (up M/M from $21 million per fund, up Y/Y from $117 million per fund in net outflows); Baird (including Strategas), $28 million per fund (up M/M from $15 million per fund, up Y/Y from $25 million per fund in net outflows); and VS Trust, $27 million per fund (up M/M from $24 million per fund, up Y/Y from $18 million per fund). Bridge Builder also leads the 2023 proportional inflows pack so far, thanks to estimated net year-to-date inflows of $335 million per fund as of April 30. Other big YTD inflows winners include: Kovitz, $154 million per fund; and Dodge & Cox, $122 million per fund. On the flip side, Ark took the outflows lead last month, thanks to an estimated $52 million per fund in net April 2023 outflows, down M/M from $14 million per fund in March 2023 inflows and down Y/Y from $12 million per fund in April 2022 inflows. Other big April 2023 outflows sufferers included: Edgewood, $49 million per fund (down M/M from $153 million per fund, down Y/Y from $196 million per fund); Akre, $46 million per fund (down M/M from $65 million per fund, down Y/Y from $58 million per fund); Primecap, $40 million per fund (down M/M from $89 million per fund, down Y/Y from $125 million per fund); and Ruanne Cunniff & Goldfarb's Sequoia, $34 million per fund (up M/M from $31 million per fund, up Y/Y from $20 million per fund). Edgewood leads the 2023 proportional outflows pack so far, thanks to an estimated $235 million per fund in YTD outflows as of April 30. Other big outflows sufferers include: Primecap, $230 million per fund; and Akre, $143 million per fund. The whole long-term U.S. mutual fund and ETF industry brought in $156,000 per fund in net April 2023 inflows. That's up M/M from $605,000 per fund in net March 2023 outflows and up Y/Y from $2.12 million per fund in April 2022 outflows. So far in 2023, the industry has brought in $543,000 per fund in net inflows. Printed from: MFWire.com/story.asp?s=65999 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |