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Rating:A Midwestern Shop Leads the Active Pack Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 23, 2019

A Midwestern Shop Leads the Active Pack

Reported by Neil Anderson, Managing Editor

A midwestern mutual fund led the active fund firm pack last month, while the industry's familiar, 800-pound gorilla led the passive pack.

This article draws from Morningstar Direct data on open-end mutual fund and ETF flows (excluding money market funds and funds of funds) from March 2019.

Baird took the lead last month among active fund firms, with estimated March net inflows of $3.039 billion, up from $1.323 billion in February. Other big active inflows winners in March included: Capital Group's American Funds, $1.985 billion (down from $3.273 billion); Lord Abbett, $1.692 billion (down from $1.763 billion); John Hancock, $1.623 billion (up from $2.046 billion in net outflows); and J.P. Morgan, $1.516 billion (up from $1.037 billion).

On the passive side, Vanguard led the pack again last month, thanks to estimated net March passive inflows of $22 billion, up from $16.977 billion in February. Other big passive inflows winners in March included: BlackRock, $11.838 billion (up from $6.763 billion); Fidelity, $10.036 billion (up from $9.162 billion); SSgA, $1.979 billion (up from $1.784 billion); and Charles Schwab, $1.823 billion (down from $2.676 billion).

On the flip side, March was a rough month for Fidelity's active mutual funds, which suffered estimated net outflows of $3.599 billion, down from $310 million in net February inflows. Other big active outflows sufferers in March included: T. Rowe Price, $2.574 billion (down from $1.421 billion in net inflows); Franklin Templeton, $2.21 billion (up from $1.302 billion); Janus Henderson, $2.088 billion (up from $226 million); and SEI, $1.532 billion (down from $26 million in net inflows).

Among passive players, Nationwide suffered an estimated $917 million in net passive outflows in March, up from $116 million in February. Other big passive outflows sufferers in March included: VanEck, $484 million (up from $28 million); J.P. Morgan, $423 million (down from $154 million in net inflows); TIAA's Nuveen, $404 million (down from $922 million); and T. Rowe, $282 million (down from $88 million in net inflows).

Industrywide, 722 active fund families suffered a combined $5.269 billion in estimated net outflows in March, down from $11.48 billion in net inflows in February (when active funds accounted for 21.39 percent of net industry flows).

149 passive fund families (down from 152 in February) brought in a combined $49.46 billion in net inflows in March, up from $41.184 billion in February. Passive funds accounted for 112 percent of net industry flows. 

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