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Rating:Baird Dominated September Among Midsize Firms Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 23, 2017

Baird Dominated September Among Midsize Firms

Reported by Neil Anderson, Managing Editor

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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