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Tuesday, September 28, 2021 Active and Passive Inflows Both Rebound By 35 Percent Active and passive inflows both rebounded by 35 last month ... despite a 40-percent passive inflows drop at the industry's reigning champion.
Pimco took the lead last month on the active side, thanks to an estimated $4.363 billion in net August 2021 inflows, up month-over-month from $1.068 billion in July 2021 and up year-over-year from $1.685 billion in August 2020. Other big August 2021 active inflows winners included: J.P. Morgan (including Six Circles), $3.63 billion (up M/M from $2.719 billion, down Y/Y from $8.959 billion); Vanguard, $3.355 billion (up M/M from $2.232 billion, down Y/Y from $6.864 billion); BlackRock (including iShares), $2.785 billion (down M/M from $3.024 billion, up Y/Y from $2.557 billion); and Goldman Sachs, $2.582 billion (up M/M from $28 million, up Y/Y from $1.968 billion). Vanguard kept the lead yet again on the passive side, thanks to an estimated $20.666 billion in net August 2021 passive inflows, down M/M from $34.197 billion in July 2021 but up Y/Y from $387 million in August 2020. Other big August 2021 passive inflows winners included: BlackRock, $19.749 billion (up M/M from $6.824 billion, up Y/Y from $4.622 billion); SSGA, $12.475 billion (up M/M from $1.66 billion in net outflows, up Y/Y from $2.663 billion); Fidelity, $10.325 billion (down M/M from $11.067 billion, up Y/Y from $2.097 billion); and Invesco, $6.773 billion (up M/M from $2.149 billion in net outflows, up Y/Y from $4.22 billion). On the flip side, last month was a rough one for Capital Group's American Funds, which led the active outflows pack thanks to an estimated $1.793 billion in net active August 2021 outflows, down M/M from $1.981 billion in net July 2021 inflows and up Y/Y from $1.515 billion in August 2020. Other big august 2021 active outflows sufferers included: FPA, $1.455 billion (down M/M from $121 million in net inflows, up Y/Y from $56 million); Ark, $1.193 billion (down M/M from $1.535 billion, down Y/Y from $1.987 billion in net inflows); T. Rowe Price, $1.18 billion (down M/M from $2.344 billion, down Y/Y from $3.11 billion); and Macquarie's Delaware, $1.022 billion (up M/M from $724 million, up Y/Y from $421 million). Rafferty's Direxion led the outflows pack on the passive side last month, thanks to an estimated $1.261 billion in net passive August 2021 outflows, down M/M from $441 million in net July 2021 passive inflows and up Y/Y from $421 million in August 2020. Other big August 2021 passive outflows sufferers included: Jackson, $342 million (up M/M from $180 million, up Y/Y from $54 million); VanEck, $264 million (down M/M from $466 million in net inflows, down Y/Y from $756 million in net inflows); T. Rowe Price, $234 million (up M/M from $182 million, down Y/Y from $548 million); and Guggenheim (including Rydex), $189 million (up M/M from $99 million, down Y/Y from $23 million in net inflows). Industrywide, the 714 active fund firms tracked by the M* team (up M/M from 709 in July 2021 and up Y/Y from 702 in August 2020) brought in an estimated $19.829 billion in net active inflows in August 2021, accounting for 20 percent of overall industry long-term inflows. That's up from $14.693 billion and 20 percent in July 2021, but it's down from $25.225 billion and 61 percent in August 2020. 382 firms gained net active inflows in August 2021, down M/M from 389 but up Y/Y from 306. The 152 passive fund firms tracked by the M* team (up M/M from 149, up Y/Y from 139( brought in an estimated $77.739 billion in net passive inflows in August 2021, accounting for 80 percent of overall industry long-term inflows. That compares with $57.431 billion and 80 percent in July 2021 and $16.178 billion and 39 percent in August 2020. 79 firms gained net passive inflows in August 2021, up M/M from 77 and up Y/Y from 76. Printed from: MFWire.com/story.asp?s=63446 Copyright 2021, InvestmentWires, Inc. All Rights Reserved |