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Rating:A Subadvised Fund Firm Is Back On Top, Proportionately Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 16, 2019

A Subadvised Fund Firm Is Back On Top, Proportionately

Reported by Neil Anderson, Managing Editor

A broker-dealer's proprietary, subadvised fund family regained the lead last month, pound for pound.

Ryan Timothy Robson
Edward Jones / Olive Street Investment Advisers, LLC
Principal, Client Strategy Group / President
This article draws from Morningstar Direct data on open-end mutual fund and ETF flows, excluding money market funds and funds of funds, from July 2019.

Edward Jones' Bridge Builder regained the lead last month, with estimated net July inflows of $75 million per fund, up from $38 million per fund in June. Other big July winners included: Grayscale, $65 million per fund (up from $6 million per fund); WCM, $65 million per fund (up from $53 million per fund); Jensen, $53 million per fund (up from $5 million per fund in outflows); and Stone Ridge, $44 million per fund (up from $18 million per fund in outflows).

On the flip side, last month was a rough one for Primecap, which suffered an estimated $142 million per fund in net July outflows, more than any other fund firm and up from $138 million per fund in June. Other big July sufferers included: Independent Franchise Partners, $136 million per fund (down from $27 million per fund in inflows); Dodge & Cox, $75 million per fund (down from $189 million per fund); Harris' Oakmark, $42 million per fund (down from $50 million per fund); and IVA, $39 million per fund (down from $41 million per fund.

The whole mutual fund and ETF industry (excluding money-market funds and funds of funds) brought in $645,000 per fund in estimated net July inflows, down from $1.119 million per fund in June. 

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