USCF and Edgewood Management really outdone themselves for the month of June, accumulating inflows that were nearly double the highest inflows set in May between all the fund firms with AUMs between $1B and $10B.

The fund flow information within this article was formulated from the exclusive data provided to MFwire by Alina Lamy, a senior analyst of quantitative research at MorningStar.

John Love United States Commodity Fund Chief Executive Officer

USCF placed first in the $1B to $10B bracket for the month of June with a estimated total of $619.6 million in net open-end mutual fund and ETF flows, M* estimates. Following close behind USCF was Edgewood with estimated net inflows of $604.8 million. These two together generated inflows that were 91.6 percent higher than, nearly double, the top two winners in the $1B to $10B bracket for May. Other winners in June included: Pear Tree Advisors, with estimated inflows of $274.6 million; Angel Oaks Capital, with estimated inflows of $193.6 million; and Global X Management, with estimated inflows of $169.1 million which was more than a 50 percent decrease from the inflows generated in May.

Alan W. Breed Edgewood Management, LLC President & Portfolio Manager

USCF also led the $1B to $10B pack on a relative basis as well for the month of June, bringing in estimated net inflows that were 13.83 percent of its total AUM. IndexIQ Advisors, the winner in May, placed second this time, with estimated net inflows that were 11.99 percent of its total AUM. Following IndexIQ were: Pear Tree, with 8.87 percent; PureFunds, with 6.71 percent; and Edgewood, with 6.23 percent.

As for outflows, out of the 160 firms in the $1B to $10B bracket, 65 of them, roughly 40 percent, generated outflows. The fund firm that suffered the most was RiverPark, with estimated open-ended mutual fund and ETF outflows of $342.6 million. Other firms that suffered heavy outflows for the month of June within the $1B to $10B bracket include: Manning & Napier, with estimated outflows of $277.5 million; Lyrical Asset Management, with estimated outflows of $198.9 million; Wasatch Advisors, with estimated outflows of $145.6 million; and Ariel Investments, with estimated outflows of $134.4 million.

On a relative basis, Lyrical suffered the most with estimated outflows that were 19.11 percent of its total AUM. Coming in second was RiverPark who had outflows that were 15.6 percent of its total AUM. Other firms that suffered the most relative outflows in June included: Hodges Capital Management, with 9.92 percent; ProFunds, with 5.10 percent; and 361 Capital, with 4 percent.

Industry wide, long-term active mutual funds generated net inflows of $1.758 billion in the month of June. This is a significant decrease in inflows compared to the $9.745 billion generated in May. The inflows in passive funds also decreased from $59.05 billion in May to $56.41 billion in June. Money market funds also took a big hit last month, experiencing estimated net outflows of about $25.097 billion.

Within long term active mutual funds, bond funds generated net inflows of $17.018 billion. International equity funds generated estimated inflows of $4.577 billion. In contrast, U.S. equity funds and sector equity funds together generated outflows of $16.275 billion and alternative, allocation, and commodities funds generated estimated total outflows of $3.562 billion.

Together, the total amount of inflows generated by both passive and active funds in June was about $58.174 billion. Yet the fund firms in the $1B and $10B AUM bracket generated net outflows of $320 million.

The information garnered above regarding general industry performance was extracted from research conducted by Chicago-based research specialist MorningStar, who released its "Morning Direct Asset Flows Commentary: United States" report for June 2017. Lamy Penned the report.  

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