September was a great month for Baird's
mutual fund business as Baird dominated inflows among mid-size firms.
The fund flow information within this article was formulated from Morningstar
data provided to MFWire
by Alina Lamy
, senior analyst of quantitative research at the investment research giant.
Baird brought in $915 million in net inflows in September, M* estimates, more than any other fund family with between $10 billion and $100 billion in AUM. Other top inflow shops in that range in September included: Edward Jones' Bridge Builder
, $814 million; Prudential's PGIM
, $765 million; Van Eck
, $714 million; and First Trust
, $662 million.
Baird also crushed it on a relative basis, too, with estimated September inflows equivalent to 2.2 percent of its AUM. Other top inflow shops last month in the $10 billion to $100 billion AUM range included: Van Eck, 1.9 percent; Baron
, 1.9 percent; Bridge Builder, 1.8 percent; and Alps
, 1.7 percent.
On the flip side, September was a rough month for Macquarie's Delaware
funds, which suffered an estimated $1.538 billion in net outflows, more than any other mid-size fund firm. Other big outflow sufferers last month include: Harbor
, $1.247 billion; GMO
, $986 million; Wells Fargo
, $820 million; and Lazard
, $692 million.
Proportionately, Rafferty's Direxion
was the biggest outflow sufferer in September in the $10 billion to $100 billion AUM range, with estimated net outflows equivalent to 4.1 percent of AUM. Other big sufferers proportionately included: Royce
, 3.5 percent; Delaware, 3.2 percent; Deutsche
, 3.1 percent; and Waddell & Reed
, 2.8 percent.
As a group, fund families with between $10 billion and $100 billion in AUM suffered $1.792 billion in net outflows in September, equivalent to 0.05 percent of their combined AUM.
Last week M* released
a report about industrywide flows, and MFWire
highlighted the biggest winners and losers among the large fund firms. Across the whole industry, active, long-term mutual funds suffered an estimated $5.576 billion in net outflows in September, while money funds brought in $26.307 billion in net inflows and passive funds brought in $56.433 billion. Among long-term, active funds, only taxable bond funds and muni bond funds had net inflows overall, while all other categories suffered net outflows.
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