The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Wednesday, September 05, 2018|
One Month, $987.7MM
One month in, Fidelity's [profile] free direct-to-retail mutual funds have flows that would make the vast majority of fundsters envious.
The Boston Behemoth unveiled the Fidelity Zero Total Market Index Fund (FZROX) and the Fidelity Zero International Index Fund (FZILX) on August 1 and launched them on August 3. By August 31, FZROX's AUM rose to $753.5 million, and FZILX's AUM rose to $234.2 million, Fidelity data confirms. Bloomberg picked up on the AUM numbers, most of which probably comes from inflows (though performance probably factored in, too).
Industry fund flows data for August, from third parties like Morningstar, is not yet available, so MFWire looked back to July. Inflows of $987.7 million would've made the new Fidelity funds the 15th biggest fund family by flows in July. Or, looked at another way, adding those flows to Fidelity's July numbers would've increased its net flows by 34.4 percent.
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