Pound for pound, it was a broker-dealer's multi-manager fund family that led the mutual fund industry pack in February, as industrywide flows slowed.
This article draws from Morningstar Direct
data on mutual fund and ETF flows from February 2018.
Edward Jones' Bridge Builder
brought in an estimated $128 million in net inflows per fund in February, more than any other mutual fund or ETF shop. Other big winners proportionately included: Robo Global
, $101 million per fund; Primecap
, $99 million per fund (down from $202 million per fund in January
, $82 million per fund; and Chiron
, $61 million per fund.
On the flip side, State Street Global Advisors (SSgA
) suffered an estimated $122 million in net outflows per fund in February, more than any other fund fund. Other big sufferers included: LJM Funds
, $48 million per fund; FMI Funds
, $41 million per fund; Bramshill
, $40 million per fund; and First Manhattan Company
), $37 million per fund.
Across the industry, the average mutual fund or ETF suffered an estimated $198,000 in net outflows in February, down from $3.8 million in net inflows per fund in January.
M* recently released a report about industrywide flows in February, and MFWire highlighted
the biggest winners and losers among the largest fund firms. Across the whole industry, long-term active mutual funds suffered an estimated $12.943 billion in net outflows in February, down from $24.048 billion in net inflows in January. Money funds swung to $42.812 billion in net inflows in February, and passive funds brought in $5.253 billion in net inflows. Within long-term active funds, international equity funds, taxable bond funds, and commodities each had net category inflows in February, while U.S. equity funds, allocation funds, sector equity funds, muni bond funds, and liquid alts all suffered net outflows.
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