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

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

Rating:Three Months Later, Active Beats Passive Again Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 23, 2020

Three Months Later, Active Beats Passive Again

Reported by Neil Anderson, Managing Editor

For the third time in more than six years, active funds beat passive ones last month in terms of inflows. Meanwhile, passive inflows are down 61 percent in two months.

Mary Callahan Erdoes
J.P. Morgan
CEO of Asset and Wealth Management
This article draws from Morningstar Direct data on August 2020 open-end mutual fund and ETF flows in the U.S., excluding money market funds and funds of funds.

On the active side of the business, J.P. Morgan (including Six Circles) kept the lead for a second month in a row, with estimated net August active inflows of $8.959 billion, up from $5.401 billion in July. Other big August active inflows winners included: Vanguard, $6.864 billion (up from $4.548 billion); American Century, $5.382 billion (up from $3.227 billion); MFS, $3.697 billion (up from $588 million); and Morgan Stanley, $2.747 billion (up from $1.479 billion).

On the passive side of the business, BlackRock kept the lead thanks to $4.622 billion in August passive inflows, down from $18.532 billion in July. Other big August passive inflows winners included: Invesco, $4.22 billion (up from $2.089 billion); SSGA, $2.663 billion (up from $1.24 billion in net outflows); Fidelity, $2.079 billion (down from $3.31 billion); and Schwab, $1.193 billion (up from $684 million).

On the flip side, August was another rough month for Fidelity's active mutual funds, which suffered an estimated $5.543 billion in net outflows, more than any other active fund firm and up from $3.738 billion in July. Other big August active outflows sufferers included: T. Rowe Price, $3.11 billion (up from $382 million); DFA, $2.64 billion (down from $3.355 billion); Invesco, $2.168 billion (down from $2.307 billion); and Capital Group's American Funds, $1.515 billion (down from $1.754 billion).

On the passive side, ProShares/ProFunds led the outflows pack last month, suffering an estimated $1.282 billion in net August passive outflows, down from $1.022 billion in net July inflows. Other big August passive outflows sufferers included: T. Rowe, $548 million (up from $525 million); Rafferty's Direxion, $421 million (down from $1.026 billion); DFA, $178 million (up from $46 million); and Victory, $167 million (down from $183 million).

Industrywide, 702 active fund families (down from 708 in July) brought in an estimated $25.225 billion in net active inflows in August, up from $12.052 billion in July. 306 of those firms gained net active inflows in August, up from 198 in July.

139 passive fund families (down from 141 in July) brought in an estimated $16.178 billion in net passive inflows in August, down from $29.381 billion in July. 76 of those firms gained net passive inflows in August, up from 71 in July. 

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
2021: Q2Q1
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. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  2. IDC Virtual Roundtable: New Jersey and Pennsylvania - April 2021, April 15
  3. IDC Virtual Roundtable: Florida - April 2021, April 20
  4. The 31st Sub-Advised Funds Forum, Apr 20-21
  5. ETF.com Awards 2020, April 20
  6. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  7. IMEA Marketing Council Roundtable | Engaging Advisors In a Virtual World, April 21
  8. IDC Virtual Roundtable: Alabama, Georgia, North Carolina, and South Carolina - April 2021, April 22
  9. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  10. IDC Webinar: The Future of the Workplace - April 2021, April 23
  11. IDC Virtual Roundtable: Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas - April 2021, April 27
  12. MFDF Case Studies in Fund Oversight — A Virtual Roundtable for Directors, Apr 28-29
  13. IDC Virtual Roundtable: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota - April 2021, April 29
  14. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  15. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  16. ICI 2021 General Membership Meeting - Day 1, May 6
  17. Emerging Manager Forum USA, May 12-14
  18. ICI 2021 General Membership Meeting - Day 2, May 13
  19. 2021 FINRA Annual Conference, May 18-20
  20. IDC Speaker Series - Abby Joseph Cohen: A Conversation About the State of the Global Markets, May 19
  21. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  22. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  23. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  24. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20
  25. ICI 2021 Operations and Technology Conference, May 20
  26. MFDF webinar - Board Oversight of a Fund's Derivatives Risk Management and Fund Compliance With Rule 18f-4, May 24




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use