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

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

Rating:A Liquid Alts Shop Leads With $196MM Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 20, 2022

A Liquid Alts Shop Leads With $196MM

Reported by Neil Anderson, Managing Editor

A liquid alts shop took the inflows lead last month among small fund firms, even as the group's outflows overall grew.

Jerry Szilagyi
Catalyst Capital Advisors LLC
President, CEO, Co-Founder
This article draws from Morningstar Direct data for November 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.) More specifically, this article focuses on the 158 firms (down year-over-year from 173 in November 2021) with between $1 billion and $10 billion each in long-term fund AUM.

Small firms had $502 billion in total long-term fund AUM as of November 30, 2022, accounting for 2.11 percent of overall industry long-term fund AUM. That compares with $513 billion and 2.27 percent on October 31, 2022, and with $567 billion and 2.08 percent on November 30, 2021.

49 of those small fund firms brought in net inflows in November 2022, up month-over-month from 48 in October 2022 but down Y/Y from 94 in November 2021.

Catalyst took the lead last month, thanks to an estimated $196 million in net November 2022 inflows, down M/M from $464 million in October 2022 but up Y/Y from $41 million in November 2021. Other big November 2022 inflows winners included: USCF, $185 million (down M/M from $195 million, up Y/Y from $121 million); PFM, $174 million (up M/M from $2 million, up Y/Y from $50 million); Smead, $167 million (up M/M from $51 million, up Y/Y from $85 million); and Amplify, $145 million (up M/M from $66 million, down Y/Y from $203 million).

Muzinich took the lead proportionately last month, thanks to estimated net November 2022 inflows equivalent to 11.2 percent of its AUM. Other big inflows winners included: PFM, 6.8 percent; Alpha Architect, 4.7 percent; USCF, 4.6 percent; and Amplify, 4.1 percent.

Catalyst now leads the 2022 small firm inflows pack so far, thanks to an estimated $2.204 billion in net year-to-date inflows as of November 30. Other big YTD inflows winners included: LoCorr, $1.638 billion; and BMO, $1.389 billion.

On the flip side, JOHCM, took the small firm outflows lead last month, thanks to an estimated $550 million in net November 2022 outflows, up M/M from $513 million in October 2022 and down Y/Y from $356 million in November 2021 inflows. Other big November 2022 outflows sufferers included: Polen Capital, $472 million (up M/M from $198 million, down Y/Y from $85 million in net inflows); City National Rochdale, $281 million (up M/M from $134 million, down Y/Y from $325 million); RBC GAM, $270 million (up M/M from $45 million, down Y/Y from $227 million in net inflows); and Angel Oak, $221 million (down M/M from $620 million, down Y/Y from $101 million in net inflows).

Oberweis took the small firm outflows lead proportionately last month, thanks to estimated net November 2022 outflows equivalent to 16.8 percent of its AUM. Other big outflows sufferers included: JOHCM, 7.2 percent; Vulcan Value Partners, 6.6 percent; RBC, 5.9 percent; and AlphaCentric, 5.8 percent.

Angel Oak still leads the small firm 2022 outflows pack, thanks to an estimated $3.844 billion in net YTD outflows as of November 30. Other big outflows sufferers included: JOHCM, $3.225 billion; and AlphaCentric, $2.965 billion.

As a group, small fund firms suffered $4.316 billion in net outflows last month, equivalent to 0.86 percent of their combined AUM and accounting for 8.18 percent of overall industry long-term outflows. That compares with $3.525 billion, 0.69 percent of AUM, and 16.09 percent of industry outflows in October 2022, and with $1.697 billion in net inflows, 0.3 percent of AUM, and 2.1 percent of industry inflows in November 2021.

Over the first eleven months of 2022, small firms suffered an estimated $21.419 billion in net outflows. That's equivalent to 4.27 percent of their combined AUM and accounts for 7.58 percent of overall industry long-term outflows.

Across the entire industry, the 788 firms tracked by the M* team (up M/M from 787, up Y/Y from 781) suffered an estimated $52.733 billion in net November 2022 outflows, equivalent to 0.22 percent of their combined $23.842 trillion in AUM. That's up M/M from $21.911 billion and 0.1 percent, and down Y/Y from $80.955 billion in net inflows and 0.3 percent.

Active funds suffered an estimated $95.552 billion in net November 2022 outflows, down M/M from $101.864 billion and up Y/Y from $2.051 billion. Passive funds brought in $42.638 billion in net November 2022 inflows, down M/M from $79.909 billion and down Y/Y from $83.006 billion.

As of November 30, long-term funds and ETFs have suffered $282.45 billion in net 2022 outflows. That's equivalent to 1.18 percent of their combined AUM. 

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
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
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 - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  2. IMEA webinar - Snapshot on the Talent Landscape, June 18
  3. 2024 MMI National Accounts Roundable, June 18
  4. MMI webinar - RIA Consolidators: The New Key Accounts?, June 20
  5. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  6. MMI webinar - DoL Fiduciary Rule Update: What Are the Implications?, June 21
  7. WE Chicago - Pre-Morningstar Conference reception, June 25
  8. Celebrating 100 Years of the Mutual Fund, June 25
  9. New York YPEM Cornhole Classic, June 25
  10. Morningstar Investment Conference Conference 2024, Jun 26-27
  11. 2024 MMI Institutional Roundtable, June 26
  12. WE PNW Seattle - Pickleball and Networking, June 27
  13. Celebrating 100 Years of the Mutual Fund, July 11
  14. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  15. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  16. MFDF Director Discussion Series - Open Forum (New York), July 23
  17. IMEA Portfolio Construction Roundtable, September 19
  18. MFDF Continuing Regulatory Impacts on Fund Boards program, October 15
  19. 2024 MMI Annual Conference, Oct 15-17
  20. IMEA Philanthropic Day, October 22
  21. IMEA Leadership Summit, October 23
  22. IMEA Star Awards Celebration, October 23
  23. IMEA Marketing Summit, October 24
  24. 5th Annual ETFGI Global ETFs Insight Summit, October 29
  25. MFDF Director Discussion Series - Open Forum (Denver), November 6
  26. MFDF webinar - Digital Assets in the Fund Space (part 2 of 2), November 7




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use