As net mutual fund outflows dropped last month, a private equity firm's mutual funds led the pack, proportionately.
| Joseph Lohrer|
Senior Managing Managing Director and National Sales Manager, Private Wealth Management Group
This article draws from Morningstar Direct
data on open-end mutual fund and ETF flows (excluding money market funds and funds of funds) from November 2018.
took the lead last month pound for pound, bringing in an estimated $191 million per mutual fund in November, up from $15 million per fund in net outflows in October
. Other big November winners included: Morningstar's own new fund family
, $72 million per fund; O'Shares
, $32 million per fund (up from $2 million per fund in net outflows); Edward Jones' Bridge Builder
, $32 million per fund (down from $113 million per fund); and AAAMCO
, $28 million per fund (up from $10 million per fund).
On the flip side, November was a rough month for Dodge & Cox
, which suffered an estimated $230 million per fund in net outflows, more than any other fund firm but down from $242 million per fund in October. Other big November outflows sufferers included: Chilton
, $220 million per fund (up from $4 million per fund); Southeastern's Longleaf
, $171 million per fund (up from $13 million per fund); Broadview
, $104 million per fund (up from $3 million per fund); and Harris' Oakmark
, $90 million per fund (up from $50 million per fund).
Industrywide, across 41,708 ETFs and long-term, open-end mutual funds (excluding funds of funds), the average fund suffered an estimated $35,000 in net outflows in November, down from $712,000 per fund in net outflows in October.
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