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Rating:Kovitz Wins With $132MM Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 24, 2023

Kovitz Wins With $132MM

Reported by Neil Anderson, Managing Editor

An ETF shop with a single fund took the lead proportionately last month as industry inflows returned.

This article draws from Morningstar Direct data on January 2023 open-end mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like CITs and SMAs, are also not included.)

Kovitz took the lead last month, thanks to an estimated $132 million per fund in net January 2023 inflows, up month-over-month from $44 million per fund in net December 2022 outflows. Other big January 2023 inflows winners included: Dodge & Cox, $86 million per fund (up M/M from $71 million per fund in net outflows, up year-over-year from $36 million per fund in net January 2022 inflows); Edgewood, $59 million per fund (up M/M from $637 million per fund in net outflows, down Y/Y from $171 million per fund in net inflows); GQG, $46 million per fund (up M/M from $3 million per fund, up Y/Y from $28 million per fund); and Edward Jones' Bridge Builder, $46 million per fund (up M/M from $6 million per fund in net outflows, down Y/Y from $86 million per fund in net inflows).

On the flip side, Primecap took the outflows lead last month, thanks to an estimated $33 million per fund in net January 2023 outflows, down M/M from $275 million per fund in December 2022 and down Y/Y from $129 million per fund in January 2022. Other big January 2023 outflows sufferers included: Core Alternative Capital, $33 million per fund (down M/M from $41 million per fund in net inflows, down Y/Y from $11 million per fund in net inflows); Sequoia, $29 million per fund (down M/M from $56 million per fund, up Y/Y from $11 million per fund; Overlay Shares, $17 million per fund (up M/M from $7 million per fund, down Y/Y from $10 million per fund in net inflows); and T. Rowe Price, $17 million per fund (down M/M from $20 million per fund, up Y/Y from $12 million per fund).

The whole long-term U.S. mutual fund and ETF industry (excluding money-market funds and funds of funds) brought in $1.008 million per fund in net January 2023 inflows. That's up M/M from $2.034 million in December 2022 outflows and up Y/Y from $214,000 per fund in January 2022 inflows. 

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