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Rating:Global X Tops Inflows Twice in a Row Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 29, 2017

Global X Tops Inflows Twice in a Row

Reported by Neil Anderson, Managing Editor

October was a big month for Global X and AlphaCentric.

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.

Global X brought in an estimated $764 million in net inflows in October, more than any other fund family with between $1 billion and $10 billion in AUM and up from $554 million in September. Other top inflow shops in that AUM range in October included: Credit Suisse, $314 million; Exchange Traded Concepts, $215 million; AlphaCentric, $203 million; and Barclays, $195 million.

On a relative basis, AlphaCentric led the $1 billion to $10 billion AUM pack in October, with estimated net inflows equivalent to 14.3 percent of its AUM. Other big winners last month included: Pacer, 12.1 percent; Exchange Traded Concepts, 10.9 percent; Global X, 10.3 percent; and Muzinich, 8.8 percent.

On the flip side, October was a rough month for Manning & Napier, which suffered an estimated $695 million in net outflows, more than any other fund firm in the $1 billion to $10 billion AUM range. Other big sufferers last month included: Baillie Gifford, $306 million; Westchester Capital, $297 million; Gotham, $125 million; and Longleaf Partners, $105 million.

Proportionately, Westchester had the roughest October among fund firms with $1 billion to $10 billion in AUM, suffering estimated net outflows equivalent to 11.5 percent of its AUM. Other big sufferers last month included: Manning, 8.9 percent; Gotham, 4.7 percent; Hodges, 4.3 percent; and LoCorr, 3.6 percent.

As a group, fund families with between $1 billion and $10 billion in AUM each brought in an estimated $1.447 billion in combined net inflows in October, amounting to about 0.3 percent of their combined AUM.

On Monday M* released a report about industrywide flows, and MFWire highlighted the biggest winners and losers among the largest fund firms. Across the whole industry, active, long-term mutual funds swung back to net inflows in October, bringing in an estimated $5.585 billion. Money market funds suffered $7.234 billion in net outflows, while passive funds' net inflows rose to $71.6 billion. Among long-term, active funds, taxable bond funds, international equity funds, muni bond funds, liquid alts, and commodities funds all netted positive estimated inflows. U.S. equity funds, allocation funds, and sector equity funds all suffered estimated net outflows. 

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