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Rating:Vanguard, BlackRock, and SSgA Won 2016 Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 19, 2017

Vanguard, BlackRock, and SSgA Won 2016

Reported by Neil Anderson, Managing Editor

The big three indexed mutual fund and ETF shops dominated the business last year.

Larry Fink
BlackRock
Chief Executive Officer
Yesterday Chicago-based investment research specialist Morningstar released its "Morningstar Direct Asset Flows Commentary: United States" report for December 2016, which includes numbers for the full calendar year, too. (See this article for a deeper dive into the December flows.) Markets research senior analyst Alina Lamy and Morningstar Direct editor Tom Lauricella worked on the report.

Vanguard [profile] brought in $277.257 billion* in net mutual fund and ETF inflows in 2016, putting it at number one. The other big net inflow winners last year were: BlackRock [profile] (including iShares [profile]), $99.484 billion; State Street Global Advisors (SSgA [profile]), $54.712 billion; Dimensional Fund Advisors (DFA [profile]), $21.481 billion; and Schwab [profile], $15.107 billion.

Proportionately, Schwab was the biggest winner last year, with net inflows amounting to 12.49 percent of its year-end 2016 AUM. Other big winners proportionately were: DoubleLine [profile], 11.03 percent; SSgA, 10.9 percent; TCW [profile], 8.4 percent; and BlackRock, 8.27 percent.

On the flip side, Franklin Templeton [profile] suffered $42.332 billion in net outflows last year, more than any other big fund firm. The other big 2016 net outflow sufferers were: Fidelity [profile], $23.217 billion; GMO [profile], $15.701 billion; Wells Fargo [profile], $15.392 billion; and Pimco [profile], $15.288 billion.

Proportionately, the biggest net outflow sufferers in 2016 were: GMO, 30.19 percent; Harris' Oakmark [profile], 22.7 percent; Wells Fargo, 16.73 percent; Harbor [profile], 15.34 percent; New York Life's MainStay [profile] 14.68 percent; and Goldman Sachs [profile], 13.88 percent.

Industrywide, long-term, active mutual funds suffered $340.137 billion in net outflows last year, and money market funds suffered $35.452 billion in net outflows. Passive funds brought in $504.776 billion in net inflows.

Within long-term, active funds, taxable bond funds brought in $46.327 billion in net inflows in 2016. Muni bond funds brought in $26.28 billion, and commodities funds brought in $3.366 billion.

On the flip side, active, long term U.S. equity funds suffered $263.79 billion in net outflows last year. $59.8 billion net flowed out of international equity funds, $53.531 billion out of allocation funds, $31.819 billion out of sector equity funds, and $7.169 billion out of alternative funds.

*All numbers are based on M*'s fund flows. 

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