As market volatility and industry outflows spiked last month, only one eighth of these fund firms had net inflows.
This article draws from Morningstar Direct
data for April 2022 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like collective trusts and SMAs, are also not included.) More specifically, this article focuses on the 24 firms (down from 25 in March
) with between $100 billion and $500 billion each in long-term fund AUM.
Large fund firms had a combined $5.012 trillion in long-term fund AUM as of April 30, 2022, and they accounted for 20.39 percent of overall industry long-term fund AUM. That compares with $5.025 trillion and 18.99 percent on March 31.
Three large fund firms brought in net long-term fund inflows last month, down from six in March.
took the lead last month, thanks to an estimated $2.538 billion in net April 2022 inflows, down month-over-month from $2.857 billion in March 2022 and down year-over-year from $5.41 billion in April 2021. The only other April 2022 inflows winners were: Edward Jones' Bridge Builder
, $1.871 billion (down M/M from $3.624 billion, up Y/Y from $996 million); and American Century
(including Avantis), $74 million (down M/M from $91 million, down Y/Y from $915 million).
Schwab also led the 2022 inflows pack after the first four months of 2022, thanks to an estimated $14.449 billion in net year-to-date inflows as of April 30. Other big YTD inflows winners included: Bridge Builder, $7.154 billion; and First Trust
, $4.317 billion.
On the flip side, Allianz's Pimco
kept the outflows lead last month for the third month in a row, thanks to an estimated $4.894 billion in April 2022 outflows, down M/M from $8.231 billion in March 2022 and down Y/Y from $2.27 billion in April 2021 inflows. Other big April 2022 outflows sufferers included: Franklin Templeton
(including Royce), $4.444 billion (up M/M from $3.416 billion, down Y/Y from $199 million in net inflows); Lord Abbett
, $2.787 billion (up M/M from $2.427 billion, down Y/Y from $1.678 billion in net inflows); Morgan Stanley
(including Calvert and Eaton Vance), $2.558 billion (down M/M from $3.113 billion, down Y/Y from $1.171 billion in net inflows); and Goldman Sachs
, $2.356 billion (up M/M from $578 million, down Y/Y from $1.147 billion in net inflows).
After the first four months of 2022, Pimco led the pack with an estimated $16.128 billion in net YTD outflows. Other big outflows sufferers included: Franklin Templeton, $13.016 billion; and Morgan Stanley, $8.049 billion.
As a group, large fund firms suffered an estimated $26.673 billion in net long-term fund outflows in April 2022, equivalent to 0.53 percent of their combined AUM and accounting for 29.89 percent of overall industry outflows. That's up from $17.629 billion and 0.35 percent of AUM in March 2022.
YTD, large fund firms have suffered an estimated $53.594 billion in net outflows as of April 30, equivalent to 1.07 percent of their combined AUM and accounting for a whopping 2,002.77 percent of overall industry YTD outflows.
Across the entire industry, the 796 firms tracked by the M* team (up M/M from 791 and up Y/Y from 760) suffered an estimated $89.224 billion in net April 2022 outflows, equivlalent to 0.36 percent of the industry's $24.585 trillion in long-term fund AUM . (320 firms brought in net inflows.) That's down M/M from $30.653 billion in net March 2022 inflows, equivalent to 0.12 percent of industry AUM of $26.461 trillion, and down Y/Y from $125.673 billion in net April 2021 inflows, equivalent to 0.49 percent of industry AUM of $25.801 trillion.
Active funds suffered an estimated $86.386 billion in net April 2022 outflows, up M/M from $70.411 billion but down Y/Y from $31.465 billion in net inflows. Passive funds suffered an estimated $2.838 billion in net April 2022 outflows, down M/M from $101.064 billion in net inflows and down Y/Y from $94.208 billion in net inflows.
After the first four months of 2022, the industry had suffered $2.676 billion in net YTD outflows, equivalent to 0.01 percent of industry long-term AUM. 410 firms have brought in net inflows YTD.
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