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Rating:Inflows Per Fund Fall 10 Percent, But ... Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 26, 2022

Inflows Per Fund Fall 10 Percent, But ...

Reported by Neil Anderson, Managing Editor

Last month, proportional monthly industry inflows fell 10 percent year-over-year. Yet 2021 proportional inflows for the full year were up more than five-fold from 2020.

Ryan Timothy Robson
Edward Jones / Olive Street Investment Advisers, LLC
Principal, Client Strategy Group / President
This article draws from Morningstar Direct data on December 2021 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. (Other asset management products, like CITs and SMAs, are also not included.)

Edward Jones' Bridge Builder took the lead last year, bringing in an estimated $1.737 billion per fund in net 2021 inflows, up from $1.519 billion in 2020. Other big 2021 inflows winners included: Ark, $954 million per fund (down Y/Y from $2.947 billion); Vanguard, $849 million per fund (up Y/Y from $339 million); Canyon Partners' River Canyon, $814 million per fund (up Y/Y from $79 million); and Horizon Kinetics, $812 million.

Bridge Builder also led the pack in the fourth quarter of 2021, thanks to an estimated $371 million per fund in net inflows. Other big Q4 2021 inflows winners included: Roundhill Financial, $207 million per fund; and River Canyon, $184 million per fund.

And Bridge Builder took the lead last month, too, thanks to an estimated $166 million per fund in net December 2021 inflows, up month-over-month from $102 million per fund in November 2021 and up Y/Y from $93 million per fund in December 2020. Other big December 2021 inflows winners included: Sands Capital, $138 million per fund (up M/M from $7 million in net outflows, up Y/Y from $28 million in net outflows); and SSGA, $118 million per fund (up M/M from $21 million, up Y/Y from $1 million).

On the flip side, last year was another rough one for Primecap which again led the outflows pack proportionately, this time suffering an estimated $1.195 billion per fund in net outflows, down Y/Y from $3.308 billion per fund in 2020. Other big 2021 outflows sufferers included: Sunbridge Capital Partners, $931 million per fund; Sequoia, $341 million per fund (down Y/Y from $391 million); Akre, $299 million per fund (down Y/Y from $206 million in net inflows); and Aware, $180 million per fund (up Y/Y from $119 million).

Primecap also led the outflows pack proportionately last quarter, with estimated net Q4 2021 outflows of $426 million per fund. Other big Q4 2021 outflows sufferers included: Ark, $331 million per fund; and Spyglass Capital Management, $204 million per fund.

And Primecap took the outflows lead last month, thanks to an estimated $275 million per fund in net December 2021 outflows, up M/M from $78 million per fund in November 2021 but down Y/Y from $305 million per fund in December 2020. Other big December 2021 outflows sufferers included: Spyglass, $235 million per fund (down M/M from $7 million in net inflows, down Y/Y from $103 million in net inflows); and Edgewood, $157 million per fund (down M/M from $24 million in net inflows, down Y/Y from $206 million).

The whole long-term, U.S. mutual fund and ETF industry brought in an estimated $29.044 million per fund in net inflows in 2021, up from $5.289 million per fund in 2020. In Q4 2021, the industry brought in $5.989 million per fund.

In December 2021, the industry brought in an estimated $2.098 million per fund. That's up M/M from $1.947 million per fund in November 2021 but down Y/Y from $2.329 million per fund in December 2020. 

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