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Rating:First Trust and Bridge Builder Take the Lead Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 26, 2017

First Trust and Bridge Builder Take the Lead

Reported by Neil Anderson, Managing Editor

Among midsize mutual fund firms, First Trust and Edward Jones' Bridge Builder dominated last month.

The fund flows information within this article was formulated from Morningstar data provided to MFWire by Alina Lamy, senior analyst of quantitative research at the investment research giant.

First Trust brought in an estimated $1.121 billion in net inflows in November, more than any other fund family with between $10 billion and $100 billion in AUM and up from First Trust's $1.07 billion in net inflows in October. Other top inflow shops in that range in November included: Bridge Builder, $939 million; Morgan Stanley, $577 million; Amundi Pioneer, $557 million; and Harris' Oakmark, $540 million.

On a relative basis, the November net inflows ranks among midsize firms look very similar at the top. First Trust came out on top with estimated net inflows equivalent to 2.12 percent of its AUM. Other big inflow winners last month, proportionately, included: Bridge Builder, 1.91 percent; Morgan Stanley, 1.73 percent; Amundi Pioneer, 1.31 percent; and WisdomTree, 0.76 percent.

On the flip side, November was a rough month for Voya, which suffered an estimated $972 million in net outflows, up from $480 million in October and more than any other midsize fund firm. Other big outflow sufferers in November included: Wells Fargo, $825 million; Waddell & Reed's Ivy Funds, $817 million; Harbor; and MainStay.

Proportionately, William Blair was the biggest outflow sufferer in November among midsize fund firms, with estimated net outflows equivalent to 2.49 percent of its AUM. Other big outflow sufferers last month, proportionately, included: Royce, 1.36 percent; Ivy, 1.29 percent; Touchstone, 1.26 percent; and Aberdeen Standard, 1.23 percent.

As a group, fund families with between $10 billion and $100 billion in AUM each suffered $5.091 billion in net outflows in November, equivalent to 0.16 percent of their combined AUM. That's down from $4.702 billion in estimated net inflows for the group in October.

Last week M* released a report about industrywide flows, and MFWire highlighted the biggest winners and losers among the largest fund firms. Across the whole industry, long-term, actively managed mutual funds swung back to outflows in November, suffering estimated net outflows of $5.954 billion while passive funds brought in $49.401 billion and money market funds brought in $52.544 billion. Among long-term, active funds, taxable bond funds, international equity funds, muni bond funds, liquid alts, and commodities funds all had net inflows last month, while U.S. equity funds, sector equity funds, and allocation funds suffered net outflows. 

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