The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Monday, May 16, 2016|
Seven Months and Counting: Vanguard Is Still On Top
For the seventh month in a row, Vanguard [profile] continues to dominate mutual fund inflows. Meanwhile, arch rivals TCW [profile] and DoubleLine [profile] also had another strong month.
Vanguard brought in an estimated $21.323 billion in net flows last month. The other top inflow winners were: BlackRock [profile] (including iShares [profile]), $3.61 billion; Dimensional Fund Advisors (DFA [profile]), $2.034 billion; TCW, $1.715 billion; and TIAA [profile] (including Nuveen [profile]), $1.667 billion.
Proportionately, DoubleLine and TCW's MetWest were neck and neck; DoubleLine brought in $1.449 billion, M* estimates, which translates to 2.0408 percent of its AUM, while TCW's $1.715 billion amounts to 2.0417 percent of its AUM. The other top inflow winners proportionately were: TIAA, 1.06 percent ($1.667 billion); Eaton Vance [profile], 0.95 percent ($620 million); and Lord Abbett [profile], 0.76 percent ($765 million).
On the outflows side, April looks to be the first month since Pimco [profile] and co-founder Bill Gross parted ways in September 2014 that the fixed income titan was not in the top five outflow sufferers. This time around those were: Franklin Templeton [profile], $2.803 billion; Invesco [profile] (including PowerShares [profile]), $2.355 billion; Fidelity [profile], $1.872 billion; Goldman Sachs [profile], $1.288 billion; and Harris Associates' Oakmark [profile], $1.1 billion.
Proportionately, April's biggest sufferer was Goldman, as its $1.288 billion in outflows amounted to 1.55 percent of its AUM. Other big sufferers proportionately included: Oakmark, 1.53 percent ($1.1 billion); Putnam [profile], 1.42 percent ($909 million); GMO [profile], 1.40 percent ($867 million); and New York Life's MainStay [profile], 1.35 percent ($770 million).
Industrywide, M* estimates that long-term active mutual funds suffered $10.775 billion in net outflows in April. $26.45 billion in net flows went into long-term passive funds, while $41.223 billion net flowed out of money market funds.
Within long-term active funds, U.S. equity funds were the biggest sufferers in April with $20.3 billion in net outflows. Other outflow suffering categories of long-term active funds included: international equity, $3.994 billion in net outflows; allocation, $2.499 billion; sector equity, $1.623 billion; and alternative, $118 million. On the positive side, three categories of long-term active funds gained net inflows last month: taxable bond, $11.691 billion; municipal bond, $5.631 billion; and commodities, $438 million.
Printed from: MFWire.com/story.asp?s=54047
Copyright 2016, InvestmentWires, Inc.
All Rights Reserved