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Rating:Global X and AlphaCentric Stay on Top Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 27, 2017

Global X and AlphaCentric Stay on Top

News summary by MFWire's editors

Last month Global X and AlphaCentric again led their pack in net inflows.

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 $710 million in net inflows in November, more than any other fund family with between $1 billion and $10 billion in AUM but down from $764 million in October. Other top inflow shops in that AUM range in November included: Exchange Traded Concepts, $271 million; AlphaCentric, $201 million; Blackstone, $181 million; and Stone Harbor, $168 million.

On a relative basis, AlphaCentric again led the $1 billion to $10 billion AUM pack, with estimated November net inflows equivalent to 12.4 percent of its AUM. Other big winners last month included: Exchange Traded Concepts, 11.8 percent; New York Life's IndexIQ, 9 percent; Global X, 8.7 percent; and Chiron, 7.6 percent.

On the flip side, November was a rough month for USCF, which suffered an estimated $339 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: Southeastern's Longleaf, $330 million; Manning & Napier, $297 million; Fairholme, $161 million; and Hodges, $108 million.

Proportionately, Hodges had the roughest November among fund firms with $1 billion to $10 billion in AUM, suffering estimated net outflows equivalent to 10.1 percent of its AUM. Other big sufferers last month included: USCF, 9.8 percent; Fairholme, 7.3 percent; CRM, 5.5 percent; and Highland, 4.5 percent.

As a group, fund families with $1 billion and $10 billion in AUM brought in an estimated $320 million in net inflows in November, amounting to about 0.1 percent of their combined AUM.

Last week M* released a report about industrywide flows, and MFWire highlighted the biggest winners and losers among the largest fund firms. Across the whole industry, long-term, actively managed mutual funds swung back to outflows in November, suffering estimated net outflows of $5.954 billion, while passive funds brought in $49.401 billion and money market funds brought in $52.544 billion. Among long-term, active funds, categories with net inflows last month included taxable bond funds, international equity funds, muni bond funds, liquid alts, and commodities funds, while U.S. equity funds, sector equity funds, and allocation funds suffered net outflows. 

Edited by: Neil Anderson, Managing Editor


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