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Rating:A $100B Family Office Takes the Fund Flows Lead Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 18, 2019

A $100B Family Office Takes the Fund Flows Lead

Reported by Neil Anderson, Managing Editor

A big family office's mutual fund arm led the inflows race last month, pound for pound.

Marc D. Stern
Bessemer Trust
CEO
This article draws from Morningstar Direct data on open-end mutual fund and ETF flows (excluding money market funds and funds of funds) from February 2019.

Bessemer Investment Management's Old Westbury Funds took the lead last month, with estimated February net inflows of $99 million per fund, up from $72 million per fund in January. Other big February inflows winners include: Edgewood, $86 million per fund (up from $59 million per fund); ETF Managers Trust, $62 million per fund (down from $64 million per fund); Vanguard, $50 million per fund (up from $49 million per fund); and Aware, $44 million per fund (up from $15 million per fund).

On the flip side, last month was a rough one for Dodge & Cox, which suffered an estimated $323 million per fund in net February outflows, down from an industry-leading $103 million per fund in net inflows in January. Other big outflows sufferers in February include: Tweedy Browne, $49 million per fund (up from $5 million per fund); Robo Global, $41 million per fund (up from $33 million per fund); Vulcan Value Partners, $38 million per fund (up from $5 million per fund); and Ruane Cunniff & Goldfarb's Sequoia, $33 million per fund (down from an industry-leading $97 million per fund).

The whole mutual fund and ETF industry (excluding money market funds and funds of funds) brought in an estimated $1.3 million per fund in February inflows, up from $930,000 per fund in January. 

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