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Rating:Fidelity and Vanguard Led the Way In February Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 23, 2021

Fidelity and Vanguard Led the Way In February

Reported by Neil Anderson, Managing Editor

The Boston Behemoth and the Low-Cost Leviathan were the leaders of two different sides of the mutual fund pack last month.

Abigail "Abby" Pierrepont Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO
This article draws from Morningstar Direct data on February 2021 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. The data also excludes other asset management products, like SMAs and CITs.

Fidelity took the lead on the active side last month, with estimated net February 2021 active inflows of $8.092 billion, up month-over-month from $222 million in January 2021 outflows and up year-over-year from $684 million in February 2020 outflows. Other big February 2021 active inflows winners included: Ark, $7.383 billion (down MOM from $7.973 billion but up YOY from $276 million); J.P. Morgan (including Six Circles), $5.856 billion (up MOM from $5.627 billion but down YOY from $6.135 billion); BlackRock (including iShares), $5.062 billion (up MOM from $4.399 billion and up YOY from $1.971 billion); and Vanguard, $3.835 billion (down MOM from $5.413 billion but up YOY from $328 million in net outflows.

Vanguard kept the lead last month on the passive side of the business, thanks to an estimated $33.614 billion in net February 2021 passive inflows, up MOM from $32.144 billion and up YOY from $20.163 billion. Other big February 2021 asset inflows winners included: BlackRock, $15.959 billion (up MOM from $4.906 billion and up YOY from $10.85 billion); Fidelity, $11.675 billion (up MOM from $8.277 billion and up YOY from $7.524 billion); Invesco, $8.662 billion (up MOM from $260 million and up YOY from $107 million in net outflows); and SSGA, $4.448 billion (up MOM from $5.727 billion in net outflows and up YOY from $26.721 billion in net outflows).

On the flip side, last month was rough for Franklin Templeton, or at least its active mutual funds, which suffered an estimated $3.825 billion in net February 2021 active outflows, more than any active fund; that's up MOM from $98 million and up YOY from $20.163 billion. Other big active outflows sufferers in February 2021 included: DFA, $2.701 billion (up MOM from $2.18 billion and up YOY from $15 million); TCW (including MetWest), $992 million (down MOM from $232 million in net inflows and down YOY from $618 million in net inflows); SEI, $898 million (down MOM from $263 million in net inflows and down YOY from $64 million in net inflows); and Harbor, $886 million (down MOM from $927 million but up YOY from $403 million).

On the passive side, TIAA's Nuveen took the outflows lead last month, suffering an estimated $1.546 billion in net passive February 2021 outflows, down MOM from $974 million in net inflows and down from $681 million in net inflows. Other big passive outflows sufferers in February 2021 included: John Hancock, $756 million (down MOM from $31 million in net inflows and down YOY from $19 million in net inflows); USCF, $394 million (down MOM from $685 million and down YOY from $195 million in net inflows; Pimco, $320 million (down MOM from $44 million in net inflows and up YOY from $60 million); and BNY Mellon, $102 million (down MOM from $202 million and down YOY from $134 million).

Industrywide, the 697 active fund firms tracked by the M* team (down MOM from 699 and down YOY from 717) brought in an estimated $53.109 billion in net active inflows in February 2021, accounting for 36.76 percent of overall industry long-term inflows. That's up from $40.863 billion but down from 42.81 percent in January 2021, and up from $11.675 billion but down from 46 percent in February 2020. 391 firms gained net active inflows in February 2021, up MOM from 383 and up YOY from 324.

The 141 passive fund firms tracked by the M* team (up MOM from 139 but down YOY from 146) brought in an estimated $91.347 billion in net passive inflows in February 2021, accounting for 63.23 percent of overall industry long-term inflows. That's up from $54.591 billion and 57.19 percent in January 2021, and $13.784 billion and 54 percent in February 2020. 89 firms gained net passive inflows in February 2021, up MOM from 80 and up YOY from 71. 

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