A Midwestern fund firm regained the inflows lead last month among midsized fund firms, according to the latest data from the folks at a publicly traded investment research firm.

Mary Ellen Bolger Stanek Robert W. Baird & Co. Managing Director, Director of Asset Management

This article draws from Morningstar Direct data on July 2024 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 212 firms with between 10 and 99 long-term mutual funds and ETFs each.

Baird (including Strategas) regained the lead last month, thanks to an estimated $1.394 billion in net July 2024 inflows, up by $382 million month-over-month from June 2024 but down by $108 million year-over-year from July 2023. Other big July 2024 inflows winners included: Edward Jones' Bridge Builder, $1.043 billion (up by $118 million M/M, up by $448 million Y/Y); Dodge & Cox, $1.002 billion (up by $556 million M/M, up by $840 million Y/Y); Tidal's YieldMax, $902 million (up by $134 million M/M, up by $599 million Y/Y); and GQG, $814 million (up by $203 million M/M, up by $650 million Y/Y).

As of July 30, 2024, Pacer led the pack with $15.811 billion in net trailing twelve months inflows. Other big TTM inflows winners included: Baird, $14.695 billion; and Dodge & Cox, $9.257 billion.

On the flip side, Grayscale led the outflows pack for a second consecutive month, thanks to an estimated $2.158 billion in net July 2024 outflows, up by $1.557 billion M/M from June 2024 and up by $2.158 billion Y/Y from July 2023. Other big July 2024 outflows sufferers included: Jensen, $767 million (up by $615 million M/M, up by $743 million Y/Y); Harding Loevner, $758 million (up by $455 million M/M, up by $610 million Y/Y); Baron, $646 million (up by $376 million M/M, up by $596 million Y/Y); and Parnassus, $435 million (up by $67 million M/M, up by $316 million Y/Y).

As of July 30, 2024, Grayscale also led the pack with $20.565 billion in net TTM outflows. Other big outflows sufferers included: DoubleLine, $7.025 billion; and Parnassus, $6.396 billion.

As a group, midsize firms suffered $784 million in July 2024 outflows, and they ended the month with $1.829 trillion in combined AUM across 6,070 funds. That compares with $3.638 billion in June 2024 inflows and $1.638 trillion in assets and 5,899 funds on June 30, 2024.

As of July 30, midsize firms accounted for 6.2 percent of industry long-term fund AUM and 14.1 percent of long-term funds.

Midsize firms suffered $2.005 billion in net TTM outflows as of July 30.

Across the whole industry, the 795 firms (up by two M/M and up by 16 Y/Y) tracked by the M* team brought in about $82.936 billion in net July 2024 inflows. The industry ended July 2024 with $29.447 trillion in AUM across 43,102 funds. (That's up by $719 billion and by 288 funds M/M, and by $3.697 trillion and 935 funds Y/Y.)

As of July 31, the industry brought in $346.371 billion in net TTM inflows into long-term funds. 

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