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Rating:Baird, Oakmark, and AB Bern the Rest! Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 23, 2017

Baird, Oakmark, and AB Bern the Rest!

Reported by Waiho Zhang

Baird & Co. snatched the first place title in terms of estimated net in flows for the month of July with over $1.5 billion.
Steve Booth
Baird & Co.

The fund flow information within this article was formulated from the exclusive data provided to MFwire by Annette Larson, a senior research analyst at MorningStar.

Baird placed first (among fund firms with AUM between $10 and $100 billion) for the month of July with $1.837 billion in net open-end mutual fund and ETF inflows, M* estimates. Coming in second in the $10B and $100B bracket was Harris' Oakmark with estimated net inflows of $1.170 billion. Other big winners included: AB with $1.081 billion; Guggenheim, with $919 million; and Edward Jones' Bridge Builder Funds with $832 million. In terms absolute inflows, the magnitude of inflows for July was much stronger than June, with all of the five firms in this bracket pulling in over $800 million compared to June when only two firms pulled in that much.

Baird was also number one in the $10B to $100B bracket on a relative basis for the month of July. Baird generated net inflows that were an estimated 4.63 percent of its total AUM. Causeway Capital came in second with net inflows that were an estimated 3.74 percent of its total AUM. Following Baird and Causeway were: Harding Loevner, with 2.29 percent; Boston Partners, with 2.03 percent; and Bridge Builder with 1.89 percent.

Despite a lot of positive gains for the month of July, there were still firms that suffered large amounts of outflows. The $10B to $100B firm that suffered the most was Deutsche Asset Management with estimated net outflows of $1.488 billion. Following Deutsche was Wells Fargo with an estimated $1.423 billion in outflows. Other firms that also suffered large outflows included: Allianz, with $728 million; Harbor Capital, with $727 million; and MainStay, with $606 million.

On a relative basis, Deutsche once again suffered the most with estimated net outflows that were a whopping 11.48 percent of its total AUM. Davis Advisors came in second with estimated outflows that were 3.89 percent of its total AUM. Other fund firms that suffered the most relative outflows in June included: Allianz funds, with 3.84 percent; Aberdeen, with 2.47 percent; and Raffertys' Direxion, with 2.02 percent.

Industry wide, long-term, active mutual funds generated estimated net inflows of $1.333 billion in the month of July. This is a decrease of $425 million compared to the month of June. The inflows in passive funds also decreased from $56.41 billion in June to $47.01 billion in July. Money Market funds took the biggest hit last month, experiencing estimated net outflows of $64.825 billion.

Within long term active mutual funds, taxable bond funds brought in an estimated $13.624 billion in inflows. International equity funds brought in an estimated $7.083 billion; municipal bond funds brought in an estimated 2.481 billion; commodities funds brought in an estimated $1.007 billion; and alternative funds brought in an estimated $10 million.

Meanwhile, long term, active U.S. equity funds dipped last month with estimated net outflows of $19.627 billion. Allocation funds had estimated net outflows of $2.798 billion and Sector Equity funds have estimated net outflows of $446 million.

The information garnered above regarding general industry performance was extracted from research conducted by Chicago-based research specialist MorningStar, who released its "Morning Direct Asset Flows Commentary: United States" report for July 2017.  

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