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Rating:12 Fund Firms Suffer More Than $1B In Outflows, Each Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 17, 2015

12 Fund Firms Suffer More Than $1B In Outflows, Each

Reported by Neil Anderson, Managing Editor

Two mutual fund shops suffered more than $1 billion each in outflows last month.

Alina Lamy
Morningstar
Senior Analyst
That's one tidbit to be gleaned from Morningstar's latest monthly flows report for U.S mutual funds and ETFs. Per the Chicago-based mutual fund ratings giant's data, $42.916 billion net flowed out of long-term, active mutual funds in August, dwarfing the $17.746 billion that net flowed into money market funds and the $14.12 billion that net flowed into long-term passive funds.

Only two of the big fund firms brought in more than $1 billion in net inflows last month. Vanguard [profile] brought in $11.566 billion, State Street Global Advisors (SSgA [profile]) brought in $1.574 billion, DoubleLine [profile] brought in $983 million, John Hancock [profile] brought in $917 million, and DFA [profile] brought in $869 million.

On the flipside, big outflow sufferers were: Franklin Templeton [profile], $5.443 billion; Pimco [profile], $4.574 billion; BlackRock [profile] (including iShares [profile]), $4.398 billion; GMO [profile], $2.075 billion; and Goldman Sachs [profile], $1.994 billion.

Yet the picture changes when you examine flows through the lens of firm size. The biggest winner was DoubleLine, which brought in net inflows equivalent to 1.64 percent of total AUM. Other winners by this metric were: Hancock, 0.764 percent of AUM; TIAA-CREF [profile] (including Nuveen [profile]), 0.437 percent; Vanguard, 0.415 percent; and SSgA, 0.39 percent.

As for outflows as a percentage of AUM, GMO was the big sufferer; its net outflows were equivalent to 2.96 percent of AUM. Other big sufferers were: Goldman, 2.14 percent; New York Life's MainStay [profile], 1.88 percent; Eaton Vance [profile], 1.73 percent; and Waddell & Reed's [profile] Ivy Funds [profile], 1.62 percent. 

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