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Wednesday, June 19, 2019

A Virginia Shop Wins In May

Reported by Neil Anderson, Managing Editor

A focused mutual fund shop in Virginia took the lead last month, pound for pound.

Charles T. Akre
Akre Capital Management
Managing Member, CEO, Chief Investment Officer
This article draws from Morningstar Direct data on May 2019 open-end mutual fund and ETF flows, excluding money market funds and funds of funds.

Akre regained the lead last month, with estimated net May inflows of $76 million per fund, up from $68 million per fund in April. Other big May winners included: WCM, $54 million per fund (up from $16 million per fund); Edward Jones' Bridge Builder, $50 million per fund (down from $133 million per fund); Vanguard, $41 million per fund (up from $13 million per fund); and Edgewood, $37 million per fund (up from $8 million per fund).

On the flip side, last month was a rough one for SSgA, which suffered an estimated $88 million per fund in net May outflows, more than any other fund firm and down from $28 million per fund in net April inflows. Other big May sufferers included: Primecap, $81 million per fund (down from $196 million per fund); Tweedy Browne, $78 million per fund (up from $24 million per fund); Robo Global, $68 million per fund (down from $56 million per fund in net inflows); and Chiron, $27 million per fund (down from $47 million per fund).

The whole mutual fund and ETF industry (excluding money market funds and funds of funds) suffered an estimated $45,000 per fund in net May outflows, down from $1.2 million per fund in net April inflows. 

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