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Rating:Brinker's Destinations Took the Lead In 2017 Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 30, 2018

Brinker's Destinations Took the Lead In 2017

Reported by Neil Anderson, Managing Editor

Brinker Capital's new Destinations Funds dominated the small fund firm pack in 2017.

The fund flows information within this article draws from Morningstar Direct data. This article digs into fund flows for the full 2017 calendar year. See our companion article for information on fund flows for December 2017.

Destinations brought in an estimated $8.206 billion in net inflows last year, more than any other fund firm with between $1 billion and $10 billion in year-end 2017 AUM. Other big inflow winners in 2017 in the small size range included: Global X, $4.323 billion; Exchange Traded Concepts (ETC), $1.86 billion; JOHCM, $1.836 billion; and Angel Oak, $1.521 billion.

Destinations led the small fund firm pack last year proportionately, too, bringing in estimated net inflows equivalent to 93.46 percent of its year-end 2017 AUM. Other big inflow winners in 2017 included: ETC, 78.94 percent; AlphaCentric, 75.59 percent; Chiron, 73.63 percent; and KraneShares, 67.08 percent.

On the flip side, 2017 was a rough year for Manning & Napier, which suffered an estimated $2.852 billion in net outflows, more than any other small fund firm. Other big sufferers included: RiverPark, $1.39 billion; James Advantage, $1.273 billion; Baillie Gifford, $1.256 billion; and Wasatch, $1.229 billion.

Proportionately, Hodges led the small fund firm outflows pack in 2017, suffering estimated net outflows equivalent to 85.09 percent of its AUM. Other big sufferers included: RiverPark, 69.97 percent; Hancock Horizon, 49.19 percent; Mercer, 46.52 percent; and James Advantage, 41.24 percent.

As a group, fund families with between $1 billion and $10 billion in AUM brought in $9.032 billion in estimated net inflows in 2017, equivalent to 1.89 percent of their combined AUM.

Last week M* released a report about industrywide flows, and MFWire the biggest winners and losers among the largest fund firms. Across the whole industry, long-term, active mutual funds suffered estimated net outflows in 2017 of $6.991 billion, while money funds brought in net inflows of $107.096 billion and passive funds brought in $691.589 billion. Within long-term, active mutual funds, taxable bond funds, international equity funds, muni bond funds, liquid alts, and commodities funds all had net inflows in 2017, while U.S. equity funds, allocation funds, and sector equity funds all suffered net outflows. 

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