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Rating:Bridge Builder Threepeats As Flows Rebound Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 25, 2024

Bridge Builder Threepeats As Flows Rebound

Reported by Neil Anderson, Managing Editor

The average mutual fund brought in nearly $2 million last year in net flows, according to the latest data from the folks at a publicly traded investment research firm.

Ryan Timothy Robson
Edward Jones / Olive Street Investment Advisers, LLC
Principal, Client Strategy Group / President
This article draws from Morningstar Direct data on December 2023 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 led the way for a third year in a row, bringing in an estimated $1.031 billion per fund in net 2023 inflows, up year-over-year from $826 million per fund in 2022. Other big 2023 inflows winners included: Axonic, $315 million per fund (up Y/Y from $19 million per fund in net outflows); Baird (including Strategas), $309 million per fund (up Y/Y from $100 million per fund in net outflows); SSGA, $292 million per fund (up Y/Y from $127 million per fund); and Neos, $278 million per fund (up Y/Y from $2 million per fund).

Bridge Builder also led the pack last quarter, thanks to an esetimated $350 million per fund in net inflows in the fourth quarter of 2023. Other big Q4 2023 inflows winners included: SSGA, $239 million per fund; and Axonic, $122 million per fund.

SSGA took the lead last month, thanks to an estimated $172 million per fund in net December 2023 inflows. Other big inflows winners included: Verity, $74 million per fund; and Seafarer, $54 million per fund.

On the flip side, Primecap took the outflows lead last year, thanks to an estimated $945 million per fund in net 2023 outflows, down Y/Y from $1.523 billion per fund in 2022. Other big 2023 outflows sufferers included: Edgewood, $899 million per fund (down Y/Y from $2.353 billion per fund); Akre, $757 million per fund (up Y/Y from $656 million per fund); Ruane Cunniff & Goldfarb's Sequoia, $508 million per fund (up Y/Y from $423 million per fund); and Core Alternative Capital, $275 million per fund (down Y/Y from $322 million per fund in net inflows).

Akre led the outflows pack last quarter, thanks to an estimated $364 million per fund in net Q4 2023 outflows. Other big outflows sufferers included: Primecap, $353 million per fund; and Evoke, $150 million per fund.

Primecap also took the outflows lead last month, thanks to an estimated $191 million per fund in net December 2023 outflows. Other big outflows sufferers included: Akre, $117 million per fund; and Aperture, $71 million per fund.

In 2023, the whole long-term mutual fund and ETF industry brought in $1.954 million per fund in net inflows. That's up Y/Y from $8.562 million per fund in net 2022 outflows.

The industry brought in $974,000 per fund in net Q4 2023 inflows. In December 2023, the industry brought in $1.364 million per fund in net inflows. 

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