First Trust and Bridge Builder Lead the Monthly Pack, Again
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Monday, January 29, 2018

First Trust and Bridge Builder Lead the Monthly Pack, Again

Among midsize mutual fund firms, First Trust and Edward Jones' Bridge Builder led the pack for a second month in a row.

The fund flows information within this article draws from Morningstar Direct data. This article digs into fund flows for December 2017. See our companion article for information on fund flows for the full 2017 calendar year.

First Trust brougth in an estimated $1.107 billion in net inflows in December, more than any other fund family with between $10 billion and $100 billion in AUM, but down from $1.121 billion in November. Other top inflow shops in the midsize AUM range in November included: Bridge Builder, $923 million; PGIM, $666 million; AB, $630 million; and Alps, $527 million.

On a relative basis, Alps led the midsize fund firm pack in December with estimated net inflows equivalent to 3.40 percent of its AUM. Other big inflows winners proportionately last month included: Glenmede, 2.19 percent; First Trust, 2.04 percent; Bridge Builder, 1.83 percent; and Carillon, 1.79 percent.

On the flip side, December was another rough month for Harbor, which suffered an estimated $1.286 billion in net outflows, more than any other midsize fund firm. Other big sufferers last month included: Voya, $859 million; ProShares, $705 million; WisdomTree, $695 million; and Putnam, $603 million.

Proportionately, Royce was the biggest outflow sufferer in December among midsize fund firms, with estimated net outflows equivalent to 2.49 percent of its AUM. Other big outflow sufferers last month, proportionately, included: Credit Suisse, 2.46 percent; ProShares, 2.21 percent; Allianz, 2.08 percent; and William Blair, 1.96 percent.

As a group, fund families with between $10 billion and $100 billion in AUM suffered $6.877 billion in estimated net outflows in December, equivalent to 0.22 percent of their combined AUM. That's up from $5.091 billion in estimated net outflows in December.

Last 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, active mutual funds suffered estimated net outflows of $7.81 billion in December, while money funds brought in $43.788 billion in net inflows and passive funds brought in $58.363 billion. Among long-term, active funds, taxable bond funds and international equity funds had overall net inflows, while U.S. equity funds, sector equity funds, muni bond funds, liquid alts, commodities fund, and allocation funds all suffered outflows.

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