Only 13 of the 46 biggest mutual fund shop saw net inflows last month. And the biggest winners were the big indexing shops.
| Tom Lauricella|
Yesterday Chicago-based investment research specialist Morningstar released
its "Morningstar Direct Asset Flows Commentary: United States" report
for December 2016. Morningstar Direct editor Tom Lauricella
and markets research senior analyst Alina Lamy
worked on the report.
], per M*'s estimates, came out on top of the flows race, bringing in net inflows of $23.764 billion. The other big net flows winners were: BlackRock
] (including iShares
]), $18.671 billion; State Street Global Advisors (SSgA
]), $17.476 billion; Schwab
], $2.88 billion, and Dimensional Fund Advisors (DFA
]), $1.699 billion.
Proportionately, per M*'s estimates, SSgA was the big winner, with inflows amounting to 3.48 percent of its AUM. Other top inflow winners, proportionately, were: Schwab, 2.38 percent; BlackRock, 1.55 percent; Vanguard, 0.70 percent; and Jackson
], 0.62 percent.
On the flip side, per M*'s estimates, the biggest net outflow sufferers in December were: Wells Fargo
], $7.051 billion; Harris' Oakmark
], $3.086 billion; DoubleLine
], $2.954 billion; Franklin Templeton
], $2.617 billion; and Capital Group's American Funds
Proportionately, per M*'s estimates, the biggest net outflow sufferers last month were: Wells Fargo, 7.66 percent of its AUM; Oakmark, 4.61 percent; DoubleLine, 4.1 percent; Harbor
], 2.16 percent; and Natixis
], 2.09 percent.
Industrywide, M* estimates that long-term, active mutual funds suffered $55.425 billion in net outflows in December. Meanwhile, passive funds brought in $76.444 billion in net inflows, and money market funds brought in $8.535 billion.
Within long-term, active mutual funds, taxable bond funds brought in net inflows of $1.83 billion, and commodities funds brought in $118 million.
On the flip side, active U.S. equity funds suffered $23.043 billion in net outflows, while $15.879 billion flowed out of muni bond funds, $8.181 billion out of international equity funds, $3.927 billion out of allocation funds, $3.402 billion out of sector equity funds, and $2.943 billion out of alternative funds.
Stay ahead of the news ... Sign up for our email alerts now