A Midwestern ETF startup led the industry inflows pack pound-for-pound in its first fund's first month.

Vivek Ganapathy Ramaswamy Strive Asset Management, LLC Co-Founder, Executive Chairman

This article draws from Morningstar Direct data on August 2022 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.)

Newcomer Strive Asset Management took the lead last month proportionately, thanks to an estimated $313 million per fund in net August 2022 inflows. Other big August 2022 inflows winners included: Vanguard, $41 million per fund (up month-over-month from $22 million per fund in July 2022, down year-over-year from $57 million per fund in August 2021); PFM, $31 million per fund (up M/M from $5 million per fund, up Y/Y from $7 million per fund in net outflows); Kensington Asset Management, $40 million per fund (up M/M from $22 million per fund); and Core Alternative Capital, $38 million per fund (down M/M from $93 million per fund, up Y/YK from $21 million per fund).

So far in 2022, Advanced Series Trust leads the inflows pack, thanks to an estimated $2.92 billion per fund in net year-to-date inflows as of August 31. Other big YTD inflows winners included: Edward Jones' Bridge Builder, $722 million per fund; and Strive, $313 million per fund.

On the flip side, Edgewood led the outflows pack proportionately last month for a third month in a row, thanks to an estimated $220 million per fund in net August 2022 outflows, down M/M from $247 million per fund in July 2022 and down Y/Y from $88 million per fund in August 2021 inflows. Other big August 2022 outflows sufferers included: AAAMCO, $109 million per fund (up M/M from $337,000, down Y/Y from $7 million per fund in net inflows); Ark, $105 million per fund (down M/M from $47 million in net inflows per fund, down Y/Y from $151 million per fund in net outflows); Primecap, $40 million per fund (down M/M from $49 million per fund, down Y/Y from $45 million per fund); and Sequoia, $31 million per fund (down M/M from $40 million per fund, down Y/Y from $38 million).

Primecap still leads the 2022 outflows pack proportionately so far, thanks to an estimated $836 million per fund in net YTD outflows as of August 31. Other big YTD outflows sufferers included: Edgewood, $779 million per fund; and River Canyon, $413 million per fund.

The whole long-term U.S. mutual fund and ETF industry (excluding money-market funds and funds of funds) brought in an estimated $114,000 per fund in net August 2022 inflows. That's up M/M from $309,000 per fund in July 2022 outflows, and it's down Y/Y from $2.33 million per fund in August 2021 inflows.

As of August 31, the industry has suffered an estimated $2.872 million per fund in net 2022 outflows. 

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