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Rating:Fidelity Both Won and Lost Last Month Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 20, 2019

Fidelity Both Won and Lost Last Month

Reported by Neil Anderson, Managing Editor

The Boston Behemoth was on top of the world last month. And yet they were also at the back of the pack.

Abigail Pierrepont Johnson
FMR (dba Fidelity Investments)
Chair, President, 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 April 2019.

Pimco took the lead last month among active fund firms, with estimated net April active inflows of $2.195 billion, up from $792 million in net outflows in March. Other big active winners in April included: TIAA's Nuveen, $1.973 billion (up from $375 million); Baird, $1.898 billion (down from $3.039 billion); BlackRock, $1.683 billion (up from $1.094 billion); and Capital Group's American Funds, $1.388 billion (down from $1.985 billion).

On the passive side, Fidelity took the lead last month, thanks to estimated net April passive inflows of $30.98 billion, up from $10.036 billion in March. Other big passive winners in April included: BlackRock, $8.217 billion (down from $11.838 billion); SSgA, $7.254 billion (up from $1.979 billion); Vanguard, $6.317 billion (down from $22 billion); and Nuveen, $3.81 billion (up from $404 million in net outflows).

On the flip side, April was another rough month for Fidelity's active mutual funds, which suffered estimated net outflows of $2.798 billion, more than any other active fund family but down from $3.599 billion in March. Other big active sufferers in April included: Harris' Oakmark, $2.453 billion (up from $674 million); OppenheimerFunds, $1.818 billion (up from $711 million); Franklin Templeton, $1.564 billion (down from $2.21 billion); and Invesco, $1.354 billion (up from $872 million).

Among passive players, Valic suffered an estimated $305 million in net passive outflows in April, more than any other passive fund family and up from $143 million in March. Other big passive sufferers in April included: T. Rowe Price, $271 million (down from $284 million); Voya, $245 million (up from $58 million); Axa, $183 million (up from $131 million); and Alps, $169 million (up from $97 million).

Industrywide, 718 active fund families (down four from March) suffered a combined $14.539 billion in net April outflows, up from $5.269 billion in March. 304 active fund families gained net inflows in April.

147 passive fund families (down two from March) brought in a combined $65.543 billion in net inflows in April, up from $49.46 billion in March. 73 passive fund families gained net inflows in April, and passive funds accounted for 129 percent of net industry inflows (up from 112 percent in March). 

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