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Rating:A Chi-Town Value Shop Retakes the Lead Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, September 18, 2018

A Chi-Town Value Shop Retakes the Lead

Reported by Neil Anderson, Managing Editor

August was another great month for a certain value equity mutual fund shop in Chi-Town.

The fund flows information within this article draws from Morningstar Direct data on mutual fund and ETF flows in August 2018, specifically for small fund firms (those with between $1 billion and $10 billion in fund AUM).

LSV brought in an estimated $438 million in net inflows in August, more than any other small fund firm and up from $6 million in net outflows in July. Other big August winners included: Ashmore, $163 million (up from $81 million); WCM, $162 million (down from $168 million); Pacer, $158 million (down from $179 million); and Thompson IM, $132 million (down from $138 million).

LSV also led the small fund firm pack proportionately in August, with estimated net inflows equivalent to 11.17 percent of its AUM, up from 0.16 percent in net outflows in July. Other big August winners included: Ashmore, 6.93 percent (up from 3.59 percent); Pacer, 5.49 percent (down from 6.74 percent); Fuller & Thaler, 5.06 percent (down from 6.55 percent); and Ark, 4.87 percent (down from 8.41 percent).

On the flip side, August was a rough month for USCF, which suffered an estimated $331 million in net outflows, more than any other small fund firm and down from $136 million in net inflows in July. Other big August sufferers included: Seafarer, $235 million (up from $166 million); Global X, $226 million (up from $28 million); James Advantage, $217 million (up from $91 million); and Driehaus, $176 million (up from $79 million).

Proportionately, USCF also led the small fund firm pack in August, with estimated net outflows equivalent to 11.7 percent of its AUM, down from 4.35 percent in net inflows in July. Other big August sufferers included: Seafarer, 10.81 percent (up from 6.8 percent); James Advantage, 9.66 percent (up from 3.74 percent); Driehaus, 4.15 percent (up from 1.79 percent); and Salient, 3.7 percent (up from 2.23 percent).

As a group, small fund firms suffered a combined $116 million in net outflows in August, equivalent to 0.02 percent of their combined AUM. That's down from $430 million in combined net outflows in July.

Across the whole industry, long-term, open-end mutual funds and ETFs brought in a combined $22.219 billion in estimated net inflows in August, equivalent to 0.12 percent of their combined AUM. That's down from $31.915 billion in July. 

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