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Rating:Pound For Pound, This Subadvised Fund Family Dominated 2017 Not Rated 1.0 Email Routing List Email & Route  Print Print
Monday, February 5, 2018

Pound For Pound, This Subadvised Fund Family Dominated 2017

Reported by Neil Anderson, Managing Editor

Pound for pound, it was a subadvised fund family aligned with a key distributor that dominated 2017.

The fund flows information within this article draws from Morningstar Direct data.

Edward Jones' Bridge Builder brought in an estimated $1.723 billion in net inflows per fund last year, more than any other mutual fund or ETF shop. Other fund shops that punched above their fund count weight in 2017 included: Edgewood, $1.002 billion; Vanguard, $881.963 million; Primecap, $839.523 million; and Brinker's Destination, $745.994 million.

On the flip side, Ruane Cunniff & Goldfarb's Sequoia suffered estimated net inflows of $532.272 million per fund in 2017, more than any other fund firm. Other big sufferers, per fund, included: Mercer, $531.131 million; Fairholme, $305.727 million; Southeastern Asset Management's Longleaf, $237.520 million; and Vulcan Value, $216.017 million.

Dodge & Cox ended 2017 with $36.219 billion in AUM per fund, more than any other fund firm. The other biggest fund firms (by AUM per fund) are the same firms that dominated inflows per fund: Vanguard, $11.025 billion; Primecap, $9.806 billion; Bridge Builder, $6.301 billion; and Edgewood, $5.55 billion.

M* recently released a report about industrywide flows, and MFWire highlighted the biggest winners and losers among the largest fund firms. Across the whole industry, long-term, active mutual funds suffered estimated net outflows of $6.991 billion, while money funds brought in net inflows of $107.096 billion and passive funds brought in $691.589 billion. Within long-term, active mutual funds, taxable bond funds, international equity funds, muni bond funds, liquid alts, and commodities funds all had net inflows in 2017, while U.S. equity funds, allocation funds, and sector equity funds all suffered net outflows. 

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