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Rating:With $182MM Per Fund, Bridge Builder Regains the Lead Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 27, 2023

With $182MM Per Fund, Bridge Builder Regains the Lead

Reported by Neil Anderson, Managing Editor

A B-D's subadvised mutual fund regained the inflows lead proportionately last month, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on October 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.

Edward Jones' Bridge Builder regained the lead last month, thanks to an estimated $182 million per fund in net October 2023 inflows, up month-over-month from $26 million per fund in September 2023 and up year-over-year from $85 million per fund in October 2022. Other big October 2023 inflows winners included: Axonic, $92 million per fund (up M/M from $36 million per fund, up Y/Y from $1 million per fund in net outflows); Edgewood, $82 million per fund (up M/M from $53 million per fund in net outflows, up Y/Y from $213 million per fund in net outflows); Neos, $44 million per fund (down M/M from $68 million per fund, up Y/Y from $1 million per fund); and F/m (including North Slope), $32 million per fund (down M/M from $38 million per fund, up Y/Y from $13 million per fund).

Bridge Builder still leads the way so far in 2023, thanks to an estimated $863 million per fund in net year-to-date inflows as of October 31. Other big YTD inflows winners included: Neos, $391 million per fund; and Axonic, $284 million per fund.

On the flip side, Akre took the outflows lead last month, thanks to an estimated $159 million per fund in net October 2023 outflows, up M/M from $34 million per fund in September 2023 and up Y/Y from $79 million per fund in October 2022. Other big October 2023 outflows sufferers included: Primecap, $60 million per fund (up M/M from $56 million per fund, down Y/Y from $125 million per fund); Aspiriant, $54 million per fund (down M/M from negligible inflows per fund, down Y/Y from $59 million per fund in net inflows); Dodge & Cox, $48 million per fund (down M/M from $101 million per fund in net inflows, down Y/Y from $57 million per fund in net outflows); and Core Alternative Capital, $41 million per fund (up M/M from $26 million per fund, down Y/Y from $30 million per fund in net inflows).

Edgewood still leads the 2023 outflows pack proportionately, thanks to an estimated $759 million per fund in net YTD outflows as of October 31. Other big outflows suffers included: Primecap, $652 million per fund; and Akre, $552 million per fund.

In October 2023, the whole long-term mutual fund and ETF industry suffered net outflows equivalent to 0.21 percent of its combined AUM. That translates into $1.161 million per fund in net outflows, up M/M from $290,000 per fund and up Y/Y from $518,000 per fund.

Over the first ten months of 2023, the industry suffered an estimated $193,000 per fund in net outflows. That's equivalent to 0.03 percent of industry AUM. 

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