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Rating:An Insurer Won the February Midsize Fund Firm Race Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, March 28, 2018

An Insurer Won the February Midsize Fund Firm Race

Reported by Neil Anderson, Managing Editor

An insurer's mutual fund family led the midsize fund firm pack last month.

The fund flows information within this article draws from Morningstar Direct data. This article digs into mutual fund and ETF flows for February 2018.

MassMutual brought in an estimated $2.689 billion in net inflows in February, more than any other fund family with between $10 billion and $100 billion in AUM. Other top inflow shops in February in the midsize AUM range included: Van Eck, $1.258 billion; Harris' Oakmark, $1.109 billion; Edward Jones' Bridge Builder, $1.023 billion; and First Trust, $881 million.

MassMutual also led the midsize fund firms on a relative basis, with estimated net inflows last month equivalent to 9.28 percent of its AUM. Other big inflow winners proportionately included: Rafferty's Direxion, 4.84 percent; Van Eck, 3.06 percent; BBH, 2.24 percent; and Baird, 1.97 percent.

On the flip side, February was another rough month for Wells Fargo, which again led the midsize pack, this time with $1.95 billion in estimated net outflows, down from $1.978 billion in January. Other big sufferers in February included: New York Life's MainStay, $1.268 billion; Harbor, $1.16 billion; WisdomTree, $811 million; and DWS, $749 million.

Proportionately, ALPS was the biggest sufferer in February among midsize fund firms, with estimated net outflows equivalent to 3.57 percent of its AUM. Other big sufferers last month, proportionately, included: MainStay, 2.43 percent; Wells Fargo, 2.19 percent; FMI, 2.18 percent; and WisdomTree, 1.82 percent.

As a group, fund families with between $10 billion and $100 billion in AUM suffered an estimated $966 million in net outflows in February, equivalent to about 0.03 percent of their combined AUM. That's down from $9.168 billion in net inflows in January.

M* recently 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 active mutual funds suffered $12.943 billion in net outflows in February, while money funds brought in $42.812 billion in net inflows and passive funds brought in $5.253 billion in net inflows. Within long-term active mutual funds, international equity funds, taxable bond funds, and commodities funds all had net inflows, while U.S. equity funds, allocation funds, sector equity funds, muni bond funds, and liquid alts all suffered net outflows. 

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