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

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

Rating:Active Outflows Climb 41 Percent In a Month, And ... Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 27, 2023

Active Outflows Climb 41 Percent In a Month, And ...

Reported by Neil Anderson, Managing Editor

Inflows into passive funds shrunk by 82.6 percent last month, even as outflows from active funds grew by 40.7 percent, according to the latest data from the folks at a publicly traded investment research company.

This article draws from Morningstar Direct data on August 2023 open-end mutual fund and ETF flows, excluding money-market funds and funds of funds. The data also excludes other asset management products, like CITs and SMAs.

J.P. Morgan (including Six Circles) led the active inflows pack for a fourth month running, thanks to an estimated $2.296 billion in net August 2023 active inflows, up month-over-month from $1.952 billion in July 2023 but down year-over-year from $3.751 billion in August 2022. Other big August 2023 active inflows winners included: Prudential's PGIM, $1.878 billion (up M/M from $137 million, up Y/Y from $1.349 billion in net outflows); Allianz's Pimco, $1.473 billion (up M/M from $717 million, up Y/Y from $1.289 billion in net outflows); Edward Jones' Bridge Builder, $597 million (up M/M from $595 million, up Y/Y from $408 million); and Baird (including Strategas), $569 million (down M/M from $1.502 billion, down Y/Y from $1.25 billion).

Vanguard took the lead on the passive side last month, thanks to an estimated $11.055 billion in net August 2023 passive inflows, down M/M from $16.78 billion in July 2023 and down Y/Y from $19.914 billion in August 2022. Other big August 2023 passive inflows winners included: Fidelity, $8.494 billion (up M/M from $8.363 billion, up Y/Y from $1.436 billion); Schwab, $2.082 billion (up M/M from $632 million, down Y/Y from $2.924 billion); WisdomTree, $1.413 billion (up M/M from $899 million, up Y/Y from $768 million); and Rafferty's Direxion, $1.214 billion (up M/M from $89 million in net outflows, up Y/Y from $502 million in net inflows).

On the flip side, last month was a rough one for Capital Group (home of American Funds), which took the active outflows lead thanks to an estimated $6.672 billion in net August 2023 active outflows, up M/M from $2.892 billion in July 2023 and up Y/Y from $1.616 billion in August 2022. Other big August 2023 active outflows sufferers included: Vanguard, $6.299 billion (up M/M from $4.888 billion, up Y/Y from $2.42 billion); BlackRock (including iShares), $3.345 billion (up M/M from $2.433 billion, up Y/Y from $2.73 billion); Franklin Templeton (including Royce), $3.261 billion (up M/M from $1.965 billion, down Y/Y from $4.311 billion); and T. Rowe Price, $3.016 billion (down M/M from $5.106 billion, down Y/Y from $4.465 billion).

SSGA took the outflows lead last month among passive fund firms, thanks to an estimated $12.194 billion in net August 2023 passive outflows, down M/M from $2.385 billion in July 2023 inflows and down Y/Y from $3.661 billion in August 2022 inflows. Other big August 2023 passive outflows sufferers included: BlackRock, $3.314 billion (down M/M from $19.517 billion in net inflows, down Y/Y from $6.397 billion in net inflows); ProShares and ProFunds, $610 million (down M/M from $1.113 billion, down Y/Y from $1.439 billion in net inflows); Jackson, $304 million (up M/M from $135 million, down Y/Y from $53 million in net inflows); and DWS (including Xtrackers), $279 million (down M/M from $13 million in net inflows, down Y/Y from $424 million in net outflows).

Overall, the 714 active fund firms tracked by the M* team (up M/M from 713, down Y/Y from 729) suffered an estimated $34.337 billion in net active outflows in August 2023, up M/M from $24.413 billion and up Y/Y from $30.062 billion. 38.9 percent of those firms (278) brought in net active inflows last month, up M/M from 38.6 percent but down Y/Y from 42.8 percent.

The 146 passive firms tracked by the M* team (up M/M from 145, down Y/Y from 158) brought in an estimated $9.869 billion in net August 2023 passive inflows, down M/M from $56.803 billion and down Y/Y from $37.845 billion. 45.9 percent of those firms (67) gained net passive inflows last month, up M/M from 44.1 percent but down Y/Y from 46.8 percent. 

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