A broker-dealer's subadvised fund family led the inflows pack by one proportional measure last month, according to the latest data from the folks at a publicly traded investment research firm.

This month, MFWire is bringing back two alternative ways of looking at fund flows. This article uses one of those alternative ways: inflows per fund. This piece specifically draws on Morningstar Direct data on March 2025 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 last quarter, thanks to an estimated $377 million per fund in net inflows in the first quarter of 2025, up by $39 million quarter-over-quarter from Q4 2024 and up by $207 million year-over-year from Q1 2024. Other big Q1 2025 inflows winners included:

River Canyon, $248 million per fund (up by $111 million per fund Q/Q, up by $180 million per fund Y/Y);

Independent Franchise Partners, $209 million per fund (up by $1.127 billion per fund Q/Q, up by $222 million per fund Y/Y);

Alpha Architect, $184 million per fund (up by $100 million Q/Q, down by $35 million Y/Y); and

3fourteensmi, $171 million per fund (up by $151 million Q/Q).

Bridge Builder also led the pack last month, thanks to an estimated $167 million per fund in net March 2025 inflows. Other big inflows winners included: River Canyon, $142 million per fund; and 3fourteensmi, $114 million per fund.

On the flip side, Edgewood led the outflows pack last quarter, thanks to an estimated $996 million per fund in net Q1 2025 outflows, up by $276 million Q/Q from Q4 2024 and up by $538 million Y/Y from Q1 2024. Other big Q1 2025 outflows sufferers included:

Primecap, $382 million per fund (down by $161 million Q/Q, up by $45 million Y/Y);

Akre, $268 million per fund (up by $58 million Q/Q, up by $10 million Y/Y);

Jensen, $177 million (up by $130 million Q/Q, up by $128 million Y/Y); and

Nuance, $118 million per fund (up by $94 million Q/Q, up by $68 million Y/Y).

Edgewood also led the outflows sufferers last month, thanks to an estimated $264 million per fund in net March 2025 outflows. Other big outflows sufferers included: Jensen, $14 million per fund; and Primecap, $136 million per fund.

The whole long-term mutual fund and ETF industry brought in $3.253 million per fund in Q1 2025 inflows. That's down by $3.523 million Q/Q and down by $1.186 million Y/Y.

In March 2025 alone, the industry brought in $550,000 per fund in net inflows, down by $1.24 million M/M and down by $1.553 million Y/Y. 

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