ProShares Crushed It In August
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Monday, October 02, 2017

ProShares Crushed It In August

August was a big month for the ProShares folks, and Edward Jones' Bridge Builder team has cause for celebration, too.

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

ProShares brought in an estimated $1.323 billion in net inflows in August, more than any other fund family with between $10 billion and $100 billion in AUM. Bridge Builder came in second with $958 million. Other top inflows shops in that AUM range included: Prudential's PGIM, $872 million; Harris' Oakmark, $705 million; and Morgan Stanley, $544 million.

ProShares also dominated the $10 billion to $100 billion AUM shops on a relative basis, too, with inflows equivalent to 4.55 percent of its AUM. Other top inflow shops in that range, on a proportional basis, include: Bridge Builder, 2.13 percent; Morgan Stanley, 1.75 percent; Northern Trust's FlexShares, 1.75 percent; and Causeway, 1.69 percent.

On the flip side, August was a rough for GMO, which suffered an estimated $1.551 billion in net outflows, more than any other fund family in the $10 billion to $100 billion. Other big sufferers last month included: Voya, $845 million in net outflows; WisdomTree, $726 million; Harbor, $723 million; and Thornburg, $548 million.

Proportionately, GMO was also the biggest outflow sufferer in August in the $10 billion to $100 billion range, with net ouflows equivalent to 3.19 percent of AUM. Other big sufferers proportionately included: Deutsche, 2.77 percent; Touchstone, 1.81 percent; Allianz, 1.72 percent; and WisdomTree, 1.68 percent.

As a group, fund families with between $10 billion and $100 billion in AUM brought in 2.7 billion in net inflows in August, equivalent to 0.08 percent of their combined AUM.

Last week M* released a report about industrywide flows, and MFWire highlighted the biggest winners and losers among the large fund firms. Active, long-term mutual funds suffered $7.174 billion in net outflows, while passive funds brought in $37.149 billion net and money market funds brought in $74.801 billion. Among active, long-term funds, taxable bond funds, international equity funds, and muni bond funds all brought in billions, while U.S. equity funds, allocation funds, and sector equity funds all saw billions flow out.

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