7 Titans Swallow 88 Percent of Inflows
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Friday, April 17, 2015

7 Titans Swallow 88 Percent of Inflows

Seven asset managers accounted for 88.2 percent of all net inflows into U.S. open-end, non-money market mutual funds last month.

On Wednesday Morningstar released its monthly report on mutual fund flows. $56.509 billion flowed into U.S. open-end, money market mutual funds in March; $46.97 billion of that went into the top 50 mutual fund families, including $32.509 billion into the top ten families alone. And seven of the biggest families accounted for $49.848 billion in net inflows.

The winners among the biggest firms were Vanguard [profile] ($26.499 billion), BlackRock [profile] and its iShares [profile] arm ($9.011 billion combined), Fidelity [profile] ($6.647 billion), Capital Group's American Funds [profile] ($2.165 billion), Dimensional Fund Advisors [profile] (DFA) ($2.11 billion), T. Rowe Price [profile] ($1.943 billion), and J.P. Morgan [profile] ($1.473 billion). Yet WisdomTree [profile] (with $6.659 billion in inflows) surpassed all but Vanguard and BlackRock, and TCW's [profile] MetWest ($2.826 billion) came in above Cap Group.

On the flip side, it was another month of outflows for Pimco [profile] ($10.252 billion in March), comparable to its outflows in February ($10.056 billion). The other top outflow sufferers in March from the 50 biggest families include State Street Global Advisors (SSgA [profile]) ($4.923 billion), Columbia [profile] ($1.063 billion), New York Life's MainStay [profile] ($734 million), Franklin Templeton [profile] ($708 million), Thornburg [profile] ($651 million), Waddell & Reed's Ivy Funds [profile] ($638 million), OppenheimerFunds [profile] ($610 million), Harbor [profile] ($555 million) and Voya [profile] ($525 million).

The 10-page report (plus its six-page appendix) also highlights category flows and flows for individual funds.

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