Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Passive Inflows Plunge By $74B, And ... Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 25, 2022

Passive Inflows Plunge By $74B, And ...

Reported by Neil Anderson, Managing Editor

Passive inflows fell by nearly $74 billion last month, and active outflows rose by nearly $5 billion. Yet those outflows were more concentrated, even as more active firms' flows were in the black.

Timothy D. "Tim" Armour
Capital Group
Chairman, CEO, Equity PM
This article draws from Morningstar Direct data on January 2022 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.***

Capital Group's American Funds took the lead last month on the active side, thanks to an estimated $3.726 billion in net January 2022 active inflows, up month-over-month from $3.109 billion in outflows in December 2021 and up year-over-yeaer from $1.444 billion in inflows in January 2021. Other big January 2022 active inflows winners included: DFA, $1.98 billion (up M/M from $947 million in net outflows, up Y/Y from $2.18 billion in net outflows); J.P. Morgan (including Six Circles), $1.162 billion (down M/M from $8.176 billion, down Y/Y from $5.627 billion); Baird (including Strategas), $1.124 billion (up M/M from $811 million, down Y/Y from $1.726 billion); and Calamos, $931 million (up M/M from $528 million, up Y/Y from $499 million).

Fidelity took the lead on the passive side last month, thanks to an estimated $15.912 billion in net January 2022 passive inflows, up M/M from $13.79 billion in December 2021 and up Y/Y from $8.277 billion in January 2021. Other big January 2022 passive inflows winners included: Vanguard, $14.72 billion (up M/M from $6.948 billion, down Y/Y from $32.144 billion); Charles Schwab, $4.661 billion (up M/M from $3.668 billion, up Y/Y from $3.819 billion); ProShares and ProFunds, $2.801 billion (up M/M from $865 million, up Y/Y from $289 million); and Rafferty's Direxion, $2.393 billion (up M/M from $788 million, up Y/Y from $89 million in net outflows).

On the flip side, last month was a rough one for Fidelity's active funds, which led the active outflows pack thanks to an estimated $4.895 billion in net January 2022 outflows, down M/M from $2.373 billion in net inflows in December 2021 and up Y/Y from $222 million in outflows in January 2021. Other big January 2022 active outflows sufferers included: Vanguard, $4.753 billion (up M/M from $2.429 billion, down Y/Y from $5.413 billion in net inflows); T. Rowe Price, $3.165 billion (up M/M from $2.663 billion, up Y/Y from $2.977 billion); Franklin Templeton, $2.48 billion (down M/M from $2.781 billion, up Y/Y from $98 million); and Ameriprise's Columbia Threadneedle, $1.986 billion (down M/M from $680 million in net inflows, down Y/Y from $1.209 billion in net inflows).

SSGA took the outflows lead on the passive side last month, thanks to an estimated $14.386 billion in January 2022 passive outflows, down M/M from $31.404 billion in December 2021 passive inflows but up Y/Y from $5.727 billion in January 2021 passive outflows. Other big January 2022 passive outflows sufferers included: BlackRock, $4.793 billion (down M/M from $29.548 billion in net inflows, down Y/Y from $4.906 billion in net inflows); Invesco, $2.313 billion (down M/M from $5.688 billion in net inflows, down Y/Y from $260 million in net inflows); T. Rowe Price, $1.238 billion (up M/M from $783 million, down Y/Y from $1.39 billion); and Principal, $643 million (up M/M from $267 million, up Y/Y from $438 million).

Overall, the 734 active fund firms tracked by the M* team (up M/M from 731 and up Y/Y from 699) suffered an estimated $13.138 billion in net active outflows in January 2022, up M/M from $8.299 billion but down Y/Y from $40.863 billion in net inflows. 413 firms gained net active inflows in January 2022, up M/M from 336 and up Y/Y from 383.

The 160 passive fund firms tracked by the M* team (up M/M from 158 and up Y/Y from 139) brought in an estimated $22.087 billion in net passive inflows in January 2022, down M/M from $95.932 billion and down Y/Y from $54.591 billion. 85 firms gained net passive inflows in January 2022, down M/M from 90 but up Y/Y from 80.

***This caveat is particularly important for jumbo fund firms, many of which are big players in the 401(k) business, where collective investment trusts (CITs) are a commonly used alternative to traditional mutual funds. For examples, as the T. Rowe team revealed earlier this month, in January 2022 their clients transferred about $2.2 billion out of T. Rowe mutual funds and into other T. Rowe products like CITs and SMAs. And T. Rowe is a big retirement plan provider and DC I-O asset manager, especially in the target-date fund (TDF) space. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF webinar - BDC Board Service 101, December 10
  2. WE Boston - Give Back Event, December 10
  3. IMEA Distribution Council webinar - Unlocking Your Competitive Edge: Driving Results Through Net Promoter Excellence, December 10
  4. WE New York - End of Year Celebration, December 11
  5. MFDF webinar - ETF Product Trends: Board Implications, December 11
  6. Nicsa webinar - The Virtues of Corporate Culture, December 11
  7. MFDF webinar - Visually Mapping Board Composition: Skills Matrices in Fund Board Rooms, December 18
  8. IMEA webinar - Driving Equity: The FARE Journey and Its Impact on Financial Services, December 19
  9. MFDF webinar - 2024 Fair Valuation Pricing Survey: Building and Strengthening the Valuation Operating Model, January 7, 2025
  10. MFDF webinar - 15(c) White Paper Webinar Series: Part 2 – Board Processes, January 9, 2025
  11. MFDF webinar - AI and Fund Compliance, January 21, 2025
  12. MFDF In Focus - In Focus: Small Boards' Use of Skills Matrices, January 22, 2025
  13. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  14. FSI OneVoice 2025, January 27 - 29, 2025
  15. 2025 ICI Innovate, February 3 - 5, 2025
  16. MFDF Director Discussion Series - Open Forum, February 10, 2025
  17. MFDF Director Discussion Series - Open Forum, February 11, 2025
  18. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025
  19. MFDF Director Discussion Series - Open Forum, April 2, 2025
  20. Envestnet Elevate 2025, April 9 - 10, 2025
  21. MFDF Director Discussion Series - Open Forum, April 15, 2025
  22. The 36th Sub-Advised Funds Forum, April 29 - 30, 2025
  23. Morningstar Investment Conference 2025, June 25 - 26, 2025
  24. MFDF Director Discussion Series - Open Forum, July 9, 2025




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use