The biggest mutual fund shop in the world has retaken the lead in the race for net inflows. And a Southern California-based fixed income boutique continues to lead pack on a percentage basis.
| Frederick William McNabb III|
Chairman, Chief Executive Officer
On Friday Morningstar released
the "Morningstar Direct U.S. Asset Flows Update" for October 2015, penned by markets research senior analyst Alina Lamy
. M* estimates that Vanguard
] raked in $16.159 billion last month, pushing it ahead of BlackRock
], which brought in $15.11 billion. (BlackRock beat
Vanguard inflow-wise in September.) Other top inflow winners in October were State Street Global Advisors (SSgA
]) with $6.728 billion, Fidelity
] with $2.664 billion, and Dimensional Fund Advisors (DFA
]) with $2.064 billion.
On a percentage of AUM basis, DoubleLine
] was again at the head of the pack last month, netting inflows amounting to 2.618 percent of AUM. Other big winners included: SSgA, 1.6186 percent; BlackRock, 1.4857 percent; TCW
], 1.3805 percent; and Legg Mason
[profile] 1.0663 percent.
In terms of outflows, Pimco
] was again the lead sufferer with $4.616 billion, yet that was nearly 15 percent less than its outflows in September. Franklin Templeton
] suffered $3.23 billion in net outflows in October, GMO's
] outflows totaled $3.115 billion, Wells Fargo's
] totaled $1.774 billion, and Ivy's
] totaled $900 million.
Translating those outflow figures into percentages of AUM, GMO had it the worst; its outflows amounted to 4.5809 percent of AUM. Other big sufferers included: Wells, outflows of 1.6579 percent of AUM; Ivy
], 1.5517 percent; Pimco, 1.4562 percent; and First Eagle
], 1.1225 percent.
For long-term, active mutual funds, only municipal bond funds ($2.358 billion in inflows) and alternative funds ($806 million) had net inflows across the category last month. The U.S. equity fund category suffered $11.348 billion in net outflows, $3.831 billion for allocation funds, $1.505 billion for taxable bond funds, $511 million for international equity funds, $252 million for sector equity funds, and $44 million for commodities funds.
Passive mutual funds gained net inflows across all categories, except $206 million in net outflows from passive alternative funds. In total, $44.638 billion flowed into passive funds in October, while $14.328 billion flowed out of active funds.
Money market mutual funds gained $50.946 billion in net inflows last month.
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