The low-cost leviathan kept pole position last month on the passive side of the business, but not on the active side.
| Douglas Bloom Sieg|
This article draws from Morningstar Direct
data on August 2019 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds.
On the active side of the business, Lord Abbett
took the lead last month, with estimated net August active inflows of $1.87 billion, up from $1.868 billion in July
. Other big August winners on the active side included: PGIM
, $1.606 billion (up from $1.333 billion); TCW
(including MetWest), $1.342 billion (up from $488 million); Goldman Sachs
, $1.282 billion (up from $423 million); and MFS
, $1.11 billion (up from $964 million).
Yet on the passive side of the business, Vanguard
kept the lead, with estimated net August passive inflows of $6.595 billion, down from $11.704 billion in July. Other big August winners on the passive side included: Fidelity
, $6.343 billion (up from $4.644 billion); Charles Schwab
, $2.839 billion (up from $2.828 billion); Goldman, $791 million (down from $965 million); and TIAA's Nuveen
, $550 million (up from $521 million).
On the flip side, August was another rough month for Invesco's
active funds, which again led the outflows pack, thanks to estimated net outflows of $3.303 billion, down from $4.122 billion in July. Other big August sufferers on the active side included: Franklin Templeton
, $2.06 billion (up from $1.484 billion); Fidelity, $2.044 billion (down from $2.299 billion); Harris' Oakmark
, $1.478 billion (up from $1.206 billion); and Deutsche Bank's DWS
, $974 million (up from $293 million).
suffered an estimated $10.47 billion in net passive outflows in August, more than any other passive fund family and down from $8.156 billion in net July passive inflows. Other big August sufferers on the passive side included: BlackRock
, $7.84 billion (up from $3.41 billion); WisdomTree
, $1.146 billion (up from $148 million); VanEck
, $552 million (down from $41 million in net inflows); and Milleis Investissments Funds
, $506 million (down from $718 million).
Industrywide, 714 active fund families (five fewer than in July) suffered an estimated $11.227 billion in combined net outflows in August, down from $158 million in net July inflows. 279 of those 714 fund families gained net active inflows in July.
142 passive fund families (the same as in July) suffered an estimated $4.7 billion in combined net August passive outflows, down from $26.54 billion net inflows in July. 64 of those 142 families gained net passive inflows in August.
Stay ahead of the news ... Sign up for our email alerts now