MutualFundWire.com: Bridge Builder Repeats, Netting $127MM Per Fund

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Friday, December 15, 2023

Bridge Builder Repeats, Netting $127MM Per Fund

A B-D's subadvised mutual fund family kept the inflows lead proportionately last month, according to the latest data from the folks at a publicly traded investment research firm.

Ryan Timothy Robson
Edward Jones / Olive Street Investment Advisers, LLC
Principal, Client Strategy Group / President

This article draws from Morningstar Direct data on November 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 led the way for a second month in a row, thanks to an estimated $127 million per fund in net November 2023 inflows, down month-over-month from $182 million per fund in October 2023 but up year-over-year from $33 million per fund in November 2022. Other big November 2023 inflows winners included: Neos, $91 million per fund (up M/M from $44 million per fund, up Y/Y from $1 million per fund); SSGA, $63 million per fund (up M/M from $4 million per fund, up Y/Y from $8 million per fund in net outflows); Dodge & Cox, $62 million per fund (up M/M from $48 million per fund in net outflows, up Y/Y from $114 million per fund in net outflows); and TBG, $42 million per fund.

Bridge Builder still leads the way so far in 2023, thanks to an estimated $990 million per fund in net year-to-date inflows as of November 30. Other big YTD inflows winners included: Neos, $482 million per fund; and Axonic, $300 million per fund.

On the flip side, Edgewood took the outflows lead last month, thanks to an estimated $119 million per fund in net November 2023 outflows, down M/M from $82 million per fund in net October 2023 inflows, and down Y/Y from $422 million per fund in net November 2022 outflows. Other big November 2023 outflows sufferers included: Evoke, $119 million per fund (up M/M from $22 million per fund, down Y/Y from $185 million per fund); Primecap, $102 million per fund (up M/M from $60 million per fund, down Y/Y from $218 million per fund); Akre, $88 million per fund (down M/M from $159 million per fund, roughly unchanged Y/Y); and Parnassus, $55 million per fund (up M/M from $12 million per fund, down Y/Y from $87 million per fund.

Edgewood still leads the 2023 outflows pack proportionately, thanks to an estimated $878 million per fund in net YTD outflows as of November 30. Other big outflows sufferers included: Primecap, $754 million per fund; and Akre, $640 million per fund.

In November 2023, the whole long-term mutual fund and ETF industry brought in net inflows of about $782,000 per fund. That's up M/M from $1.161 million per fund in net outflows per fund in October 2023 and up Y/Y from $1.248 million per fund in net outflows per in November 2022.

Over the first 11 months of 2023, the industry brought in an estimated $597,000 per fund in net outflows.

Printed from: MFWire.com/story.asp?s=66820

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