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

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

Rating:Nearly Half of Inflows Go to Midsize Firms Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 18, 2020

Nearly Half of Inflows Go to Midsize Firms

Reported by Neil Anderson, Managing Editor

Nearly half of net industry inflows went into midsize fund firms last month.

This article draws from Morningstar Direct data on October 2020 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. More specifically, this article focuses on the 76 fund firms (up from 73 in September) with between $10 billion and $100 billion each in long-term fund AUM. 35 of those firms gained net inflows in October (up from 34 in September), and 32 gained net inflows in the first ten months of 2020.

Edward Jones' Bridge Builder regained the lead last month, with an estimated $3.699 billion in net October inflows, up from $620 million in September. Other big October inflows winners included: Morgan Stanley, $2.467 billion (up from $259 million); Baird, $2.284 billion (down from $2.622 billion); Ark, $2.102 billion (up from $1.032 billion); and Guggenheim including Rydex), $1.442 billion (up from $882 million).

Ark led the midsize pack proportionately last month, thanks to estimated net October inflows equivalent to 12.4 percent of its AUM, up from 6.9 percent in September. Other big October inflows winners included: Mirae (including Global X), 3.9 percent (up from 3.7 percent); Bridge Builder, 3.9 percent (up from 0.7 percent); Guggenheim, 3.6 percent (up from 2.3 percent); and Mercer, 3.5 percent (up from 1.7 percent).

Year-to-date, as of the end of October, Baird led the midsize pack, with estimated net inflows of $13.762 billion. Other big YTD inflows winners included: ProShares and ProFunds, $12.892 billion; Bridge Builder, $10.999 billion; First Trust, $9.289 billion; and Ark, $9.577 billion.

On the flip side, October was a rough month for Harris' Oakmark, which suffered an estimated $1.06 billion in net outflows, more than any other midsize fund firm but down from $1.225 billion in September. Other big October outflows sufferers included: harbor, $781 million (up from $475 million); GMO, $687 million (up from $468 million0; Rafferty's Direxion, $626 million (up from $166 million); and Macquarie (including Delaware), $622 million (up from $145 million).

Proportionately, Direxion led the mid-size outflows pack last month, thank to estimated net October outflows equivalent to 4.1 percent of its AUM, up from 1 percent in September. Other big October outflows sufferers included: AQR, 3.2 percent (up from 2.9 percent); GMO, 2.5 percent (up from 1.6 percent); Great-West, 2.4 percent (up from 1 percent); and Oakmark, 2.3 percent (down from 2.6 percent).

In the first ten months of 2020, Oakmark led the midsize outflows pack, thanks to an estimated $14.166 billion in net outflows. Other big YTD outflows sufferers included: DoubleLine, $9.799 billion; Primecap, $8.438 billion; Victory, $8.196 billion; and First Eagle, $8.09 billion.

As a group, the 76 midsize fund firms brought in an estimated $6.38 billion in net October inflows, equivalent to 0.23 percent of their combined AUM and accounting for 47.5 percent of overall industry inflows. That's up from $1.625 billion, 0.06 percent of AUM, and 15.14 percent of industry inflows in September.

Yet YTD, midsize fund firms have suffered an estimated $49.91 billion in net outflows, equivalent to 1.76 percent of their combined AUM.

Across the entire industry, the 756 fund firms (up from 751 in September) tracked by the M* team brought in an estimated $13.432 billion in net October inflows, up from 410.736 billion in September. Active fund firms suffered $6.934 billion in net October outflows, while passive funds brought in $20.374 billion in net inflows. YTD, long-term funds and ETFs have brought in an estimated $13.913 billion in net inflows. 

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




©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