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 |
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Tuesday, May 23, 2023 With $1.4B, Fido Takes the Active Inflows Lead The Boston Behemoth and the Low-Cost Leviathan led the way last month with active and passive inflows, respectively. 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. The data also excludes other asset management products, like CITs and SMAs. Fidelity took the lead last month among active fund families, thanks to an estimated $1.401 billion in net April 2023 active inflows, up month-over-month from $6.826 billion in net outflows in March 2023 and up year-over-year from $7.296 billion in net outflows in April 2022. Other big April 2023 active inflows winners included: DFA, $1.083 billion (up M/M from $887 million, up Y/Y from $212 million in net outflows); J.P. Morgan (including Six Circles), $1.083 billion (down M/M from $3.172 billion, up Y/Y from $158 million); Baird (including Strategas), $1.081 billion (up M/M from $589 million, up Y/Y from $961 million in net outflows); and Edward Jones' Bridge Builder, $697 million (down M/M from $2.35 billion, down Y/y from $1.871 billion). Vanguard regained the lead on the passive side last month, thanks to an estimated $14.383 billion in net April 2023 passive inflows, up M/M from $6.772 billion in March 2023 and up Y/Y from $5.134 billion in April 2022. Other big April 2023 passive inflows winners included: BlackRock (including iShares), $8.652 billion (down M/M from $9.945 billion, up Y/Y from $9.849 billion); Fidelity, $5.265 billion (down M/M from $7.607 billion, down Y/Y from $6.271 billion); SSGA, $4.721 billion (up M/M from $35 million, up Y/y from $11.294 billion in net outflows); and Invesco, $1.664 billion (up M/M from $136 million in net outflows, up Y/Y from $1.183 billion in net outflows). On the flip side, last month was a rough one for Capital Group (home of American Funds), which took the active outflows lead thanks to an estimated $5.186 billion in net April 2023 active outflows, up M/M from $4.655 billion in March 2023 and up Y/Y from $3.572 billion in April 2022. Other big April 2023 active outflows sufferers included: Vanguard, $5.131 billion (down M/M from $6.731 billion, down Y/Y from $12.716 billion); T. Rowe Price, $4.103 billion (down M/M from $5.095 billion, down Y/Y from $4.867 billion); Invesco, $2.269 billion (down M/M from $2.426 billion, down Y/Y from $2.454 billion); and Franklin Templeton, $2.157 billion (down M/M from $3.206 billion, down Y/Y from $4.397 billion). VanEck took the passive outflows lead last month, thanks to an estimated $701 million in net April 2023 outflows, down M/M from $720 million in net March 2023 inflows and down Y/Y from $1.772 billion in April 2022 inflows. Other big April 2023 passive outflows sufferers included: First Trust, $555 million (up M/M from $386 million, down Y/Y from $571 million); Goldman Sachs, $344 million (down M/M from $460 million in net inflows, down Y/Y from $173 million in net inflows); Northern (including Flexshares), $269 million (up M/M from $49 million, down Y/Y from $72 million in net inflows); and Allianz's Pimco, $211 million (up M/M from $31 million, down Y/Y from $288 million in net inflows). Overall, the 719 active fund firms tracked by the M* team (down M/M from 739 and down Y/Y from 734) suffered an estimated $30.68 billion in net active outflows in April 2023, down M/M from $58.306 billion and down Y/Y from $86.386 billion. 266 of those firms (37 percent) brought in net active inflows last month, up M/M from 256 (34.6 percent) but down Y/Y from 292 (39.8 percent). The 147 passive firms tracked by the M* team (down M/M from 154, down Y/y from 159) brought in an estimated $37.244 billion in net April 2023 inflows, up M/M from $32.778 billion in March 2023 and up Y/Y from $2.838 billion in net April 2022 outflows. 62 of those firms (42.2 percent) gained net passive inflows last month, up M/M from 61 (39.6 percent) but down Y/Y from 79 (49.7 percent). Printed from: MFWire.com/story.asp?s=66005 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |