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Rating:SSgA Rebounds, and Vanguard's Flows Double Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 10, 2018

SSgA Rebounds, and Vanguard's Flows Double

Reported by Neil Anderson, Managing Editor

The biggest fund firm in the business is back in the pole position, and another giant bounced back into second.

The information within this article draws from Morningstar Direct data on September 2018 open-end mutual fund and ETF flows (excluding money market funds and funds of funds), and focuses specifically on firms with more than $100 billion in mutual fund and ETF AUM.

Vanguard retook the lead in September, bringing in an estimated $16.476 billion in net inflows, double its $8 billion from August. Other big September winners include State Street Global Advisors (SSgA), $10.315 billion (up from $8.336 billion in net outflows); BlackRock, $8.961 billion (down from $15.727 billion); Fidelity, $6.56 billion (up from $356 million); and Schwab, $1.24 billion (down from $2.714 billion).

Proportionately, among the biggest fund firms, SSgA took the lead in September with estimated net inflows equivalent to 1.53 percent of its AUM, up from net outflows of 1.25 percent of AUM in August. Other big September winners, proportionately, included: Lord Abbett, 0.86 percent (down from 1.34 percent); Schwab, 0.59 percent (down from 1.29 percent); BlackRock, 0.52 percent (down from 0.92 percent); and Fidelity, 0.41 percent (up from 0.02 percent).

On the flip side, September was another rough month for Franklin Templeton, which suffered an estimated $2.731 billion in net outflows, up from $2.161 billion in August. Other big sufferers in September included: T. Rowe Price, $1.944 billion (up from $1.315 billion); Invesco, $962 million (down from $2.102 billion in net inflows); Columbia Threadneedle, $806 million (down from $1.719 billion); and Nuveen, $665 million (down from $1.082 billion in net inflows).

Proportionately, among the biggest fund firms, Franklin also suffered the most, with estimated net outflows equivalent to 0.75 percent of its AUM, up from 0.59 percent in August. Other big September sufferers included: Columbia, 0.52 percent (down from 1.09 percent); Axa, 0.49 percent (down from 0.62 percent); American Century, 0.39 percent (down from 1.06 percent); and T. Rowe, 0.31 percent (up from 0.21 percent).

As a group, fund families with at least $100 billion in AUM per family brought in an estimated $37.797 billion net inflows in September, equivalent to 0.25 percent of their combined AUM. That's up from $28.713 billion in August.

Across the whole industry, long-term open-end mutual funds and ETFs brought in a combined $28.269 billion in estimated net inflows in September, equivalent to 0.15 percent of their combined AUM. That's up from $22.219 billion in August. 

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