The $11.7T Decade
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Friday, February 14, 2020

The $11.7T Decade

$11.7 trillion. 129 percent.

Mortimer J. "Tim" Buckley
President, CEO
That's how much AUM grew last decade ( to $20.8 trillion in AUM) in the U.S. long-term mutual fund industry, according to the folks at Morningstar. They recently reflected on the 2010s, highlighting trends like the growth of target date funds (AUM nearly tripled to $2 trillion, from $700 billion), which in turn contributed to the dominance of core strategies (which brought in more than half of all industry inflows).

The M* article also offers some new numbers underscoring two well-known industry trends: the active-to-passive shift, and the dominance of the fund oligopoly, especially Vanguard. Passive funds brought in $3.8 trillion in net inflows in the 2010s, they note, while active funds suffered $185 billion in net outflows. And Vanguard alone accounted for more than 90 percent of net industry inflows for the decade.

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