MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, July 19, 2023 Vanguard Leads With $43B The low-cost leviathan leads the way so far in 2023 when it comes to inflows among mutual fund titans.
Jumbo fund firms held $17.122 trillion in total long-term fund AUM across 7,835 funds as of June 30, 2023, and they accounted for 68.56 percent of overall industry long-term fund AUM. That compares with $16.344 trillion, 7,812 funds, and 68.38 percent of industry AUM on May 31, 2023, and with $15.247 trillion and 66.85 percent of industry AUM on June 30, 2022. Six of those jumbo fund firms brought in net inflows in June 2023. That's up month-over-month and year-over-year from two in May 2023 and two in June 2022. Vanguard led the way in the first half of 2023, thanks to an estimated $43.075 billion in net year-to-date inflows as of June 30. Other big YTD inflows winners included: J.P. Morgan (including Six Circles), $40.64 billion; and SSGA, $16.896 billion. SSGA led the pack last quarter, thanks to an estimated $26.277 billion in net inflows in the second quarter of 2023. Other big Q2 2023 inflows winners included BlackRock (including iShares), $20.788 billion; and J.P. Morgan, $16.156 billion. BlackRock regained the lead last month, bringing in an estimated $17.778 billion in net June 2023 inflows, up M/M from $4.631 billion in net May 2023 outflows and up Y/Y from $12.269 billion in net June 2022 inflows. Other big June 2023 inflows winners included: Vanguard, $12.479 billion (up M/M from $10.538 billion in net outflows, up Y/Y from $3.774 billion); and J.P. Morgan, $7.686 billion (up M/M from $5.699 billion, up Y/Y from $399 million in net outflows). On the flip side, T. Rowe Price led the outflows pack in the first half of 2023, thanks to an estimated $27.832 billion in net YTD outflows as of June 30. Other big outflows sufferers included: Capital Group (home of American Funds), $20.606 billion; and Invesco, $688 million. Last quarter, only two jumbo fund firms suffered net outflows: T. Rowe, with $13.674 billion in net outflows; and Cap Group, with $13.294 billion. The same two firms were the only jumbo fund firm outflows sufferers in June 2023. T. Rowe Price led the pack with $4.662 billion in net outflows, down M/M from $5.16 billion in May 2023 and down Y/Y from $6.167 billion in June 2022. Cap Group suffered $2.688 billion in net June 2023 outflows, down M/M from $5.419 billion and down Y/Y from $5.877 billion. As a group, the eight largest fund firms brought in $73.559 billion in the first half of 2023. That's equivalent to 0.43 percent of their combined AUM and accounts for 193.35 percent of overall industry long-term inflows. In Q2 2023, jumbo fund firms brought in $60.414 billion in net inflows. That's equivalent to 0.35 percent of their combined AUM and accounts for 268.71 percent of overall industry long-term inflows. In June 2023 along, jumbo fund firms brought in $45.491 billion in net inflows, equivalent to 0.27 percent of their combined AUM and accounting for 126.26 percent of overall industry long-term inflows. That's up M/M from $6.516 billion in net outflows, 0.04 percent of AUM, and 28.37 percent of industry outflows in May 2023, and up Y/Y from $11.526 billion in net outflows, 0.08 percent of AUM, and 18.8 percent of overall industry outflows. Across the entire industry, the 780 firms tracked by the M* team down Y/Y from 790) brought in $38.045 billion in the first half of 2023. That's equivalent to 0.15 percent of their combined AUM. In Q2 2023, the overall industry brought in $22.483 billion in net inflows. That's equivalent to 0.09 percent of its combined AUM. In June 2023 alone, the overall industry brought in $36.029 billion in net inflows, equivalent to 0.14 percent of its combined $24.973 trillion in AUM across 42,054 funds. That's up M/M from $22.969 billion in net outflows, 0.1 percent, $23.9 trillion in AUM, and 41,597 funds in May 2023, and up Y/Y from $61.306 billion in net outflows, 0.27 percent, $22.808 trillion in AUM, and 42,029 funds in June 2022. Active funds suffered an estimated $31.238 billion in net outflows in June 2023, down M/M from $44.016 billion in May 2023 and down Y/Y from $90.45 billion in June 2022. On the flip side, passive funds brought in $67.267 billion in net June 2023 inflows, up M/M from $21.046 billion and up Y/Y from $29.219 billion. *** This caveat is particularly important for jumbo fund firms, many of which are big players in the 401(k) business, where collective investment trusts (CITs) are a commonly used alternative to traditional mutual funds. Printed from: MFWire.com/story.asp?s=66216 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
