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Rating:Pound For Pound, a Roboadvisor Won the March Fund Flows Race Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 04, 2018

Pound For Pound, a Roboadvisor Won the March Fund Flows Race

Reported by Neil Anderson, Managing Editor

Proportionately, it was a roboadvisor that led the mutual fund industry pack in March.

This article draws from Morningstar Direct data on open-end mutual fund and ETF flows from March 2018.

Wealthfront's sole mutual fund brought in an estimated $161 million in net inflows in March, more per fund than any other fund firm and up from $15 million in February. Other big March winners proportionately included: Primecap, $143 million per fund (up from $99 million in February); Edgewood, $115 million per fund (up from $82 million); Edward Jones' Bridge Builder, $107 million per fund (down from $128 million); and Chiron, $58 million per fund (down from $61 million).

On the flip side, State Street Global Advisors (SSgA) suffered an estimated $53 million in net outflows per fund in March, more than any other fund firm but down from $122 million in February. Other big sufferers included: Dodge & Cox, $52 million per fund (down from $39 million in net inflows per fund in February); Tweedy Browne, $34 million per fund (down from $36 million); Fairholme, $34 million per fund (up from $18 million); and IronBridge, $33 million per fund (up from $8 million).

Across the industry, the average open end mutual fund or ETF brought in an estimated $334,000 in net inflows in March, up from $198,000 in net outflows in February.

M* recently released a report about industrywide flows, with a familiar new author, and MFWire highlighted the biggest winners and losers among the largest fund firms. Across the whole industry, long-term active mutual funds brought in an estimated $1.178 billion in net inflows in March, while money funds suffered $54.264 billion in net outflows and passive funds brought in $12.178 billion in net inflows. Within long-term active funds, taxable bond funds, international equity funds, muni bond funds, liquid alts, and commodities funds all had net inflows, while U.S. equity funds, allocation funds, and sector equity funds suffered net outflows. 

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