Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:First Trust Dethrones Baird Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 16, 2019

First Trust Dethrones Baird

Reported by Neil Anderson, Managing Editor

A midwestern ETF shop unseated another midwestern firm as mid-size flows king last month.

This article draws from Morningstar Direct data on June 2019 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. More specifically, this article focuses on the 77 firms with between $10 billion and $100 billion each in fund AUM. Only 24 of those gained net inflows in June.

First Trust took the lead last month, with estimated net June inflows of $1.561 billion, up from $390 million in May. Other big June winners included: Morgan Stanley, $1.113 billion (up from $956 million); DoubleLine, $971 million (up from $811 million); Baird (the March, April, and May winner), $906 million (down from $1.133 billion); and AllianceBernstein, $404 million (up from $142 million).

Proportionately, Global X parent Mirae led the mid-size pack, with estimated net June inflows equivalent to 3.06 percent of its AUM, up from 2.1 percent in May. Other big June winners included: Brown Advisory, 2.72 percent (up from 1.71 percent); Morgan Stanley, 2.2 percent (up from 2 percent); First Trust, 2.14 percent (up from 0.57 percent); and Baird, 1.55 percent (down from 1.99 percent).

On the flip side, June was a rough month for Harris' Oakmark, which suffered an estimated $1.448 billion in net outflows, more than any other mid-size fund firm and up from $768 million in May. Other big June sufferers included: VanEck, $1.111 billion (down from $116 million in net inflows); Rafferty's Direxion, $1.06 billion (down from $455 million in net inflows); Lazard, $918 million (up from $29 million); and Voya, $735 million (up from $334 million).

Proportionately, Direxion led the mid-size outflows pack last month, suffering estimated net June outflows equivalent to 7.72 percent of its AUM, down from 3.59 percent in net May inflows. Other big June sufferers included: Lazard, 3.31 percent (up from 0.11 percent); Glenmede, 2.81 percent (up from 1.14 percent); VanEck, 2.68 percent (down from 0.3 percent in net inflows); and AIG, 2.43 percent (up from 1.71 percent).

As a group, the 77 mid-size fund firms (one fewer than in May) suffered an estimated $10.069 billion in combined net outflows in June, equivalent to about 0.36 percent of their combined AUM. That's up from $4.297 billion in net mid-size outflows in May.

Across the whole industry (M* tracks flows from 778 firms), long-term mutual funds and ETFs brought in a combined $46.25 billion in estimated net inflows in June, equivalent to about 0.24 percent of industry AUM. That's up from $1.843 billion in net May outflows. Passive funds brought in $68.599 billion in net June inflows, while active funds suffered $22.349 billion in net outflows. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. Director Discussion Series - Open Forum via Zoom, September 29
  2. IMEA roundtable - Portfolio Construction, September 29
  3. MMI webinar - The Future of Marketing is Changing ... Are You Ready?, September 29
  4. IDC Speaker Series - A Conversation with Roger Ferguson, October 3
  5. IDC webinar - A Conversation with Roger Ferguson, Jr., October 3
  6. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  7. Nicsa Fearless Leadership Symposium, Oct 6-7
  8. 7th Annual FUSE Forum, October 6
  9. 2022 ICI Securities Law Developments Conference - day 1, October 11
  10. MFDF Director Discussion Series - Open Forum (San Francisco), October 12
  11. 2022 ICI Securities Law Developments Conference - day 2, October 13
  12. MFDF In Focus: ESG Data Requirements - What Directors Need to Know, October 19
  13. 2022 MMI Annual Conference, Oct 19-21
  14. 2022 IDC Fund Directors Conference, Oct 24-26
  15. 18th annual Expect Miracles Wine & Spirits Event, October 27
  16. Buford Capital Securities Litigation Symposium, November 1
  17. IMEA All-Council Fall Summit, Nov 2-3
  18. Nicsa 2022 General Membership Meeting, Nov 2-3
  19. Tiburon CEO Summit XLIII, Nov 7-9
  20. 2022 ICI Tech Summit, Nov 8-9
  21. UCITS & AIFMD for U.S. Managers - New York, Nov 8-9
  22. 2022 MMI Distribution Leadership Forum, Nov 9-10
  23. MFDF Asset Management Industry Update and Director Governance Trends, November 10
  24. 3rd Annual ETFGI Global ETFs Insights Summit - United States, Nov 15-16
  25. 2022 MMI Alternative Investments Forum, November 16
  26. MFDF webinar - Mutual Fund CCO Compensation: The MPI Annual Survey Update, November 16




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use