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

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

Rating:Vanguard and JPM Repeat Their Flows Victories Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 26, 2023

Vanguard and JPM Repeat Their Flows Victories

Reported by Neil Anderson, Managing Editor

The low-cost mutual fund titan and a money center bank's asset management arm led the passive and active flows packs again last month, respectively, according to the latest data from the folks at a publicly traded investment research company.

This article draws from Morningstar Direct data on September 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.

Vanguard led the passive inflows pack for a second consecutive month, thanks to an estimated $8.444 billion in net September 2023 passive inflows, down month-over-month from $11.055 billion in August 2023 but up year-over-year from $5.778 billion in September 2022. Other big September 2023 passive inflows winners included: SSGA, $7.339 billion (up M/M from $12.194 billion in net outflows, up Y/Y from $86 million in net inflows); Fidelity $6.11 billion (down M/M from $8.494 billion, up Y/Y from $3.443 billion); Invesco, $3.374 billion (up M/M from $380 million, up Y/Y from $1.129 billion in net outflows); and Schwab, $2.15 billion (up M/M from $2.082 billion, down Y/Y from $3.149 billion).

J.P. Morgan (including Six Circles) led the active inflows pack for a fifth month running, thanks to an estimated $2.676 billion in net September 2023 inflows, up M/M from $2.296 billion in August 2023 and up Y/Y from $887 million in net outflows in September 2022. Other big September 2023 active inflows winners included: Dodge & Cox, $1.312 billion (up M/M from $542 million, up Y/Y from $1.135 billion in net outflows); Prudential's PGIM (including Advanced Series Trust), $766 million (down M/M from $1.878 billion, up $199 million in net outflows); Baird (including Strategas), $575 million (up M/M from $569 million, up Y/Y from $491 million in net outflows); and Innovator, $363 million (up M/M from $306 million, down Y/Y from $473 million.

On the flip side, last month was a rough one for ProShares and ProFunds, which took the passive outflows lead thanks to $1.196 billion in net September 2023 passive outflows, up M/M from $610 million in August 2023 and up Y/Y from $1.112 billion in September 2022. Other big September 2023 passive outflows sufferers included: BlackRock (including iShares), $693 million, (down M/M from $3.314 billion, down Y/Y from $8.508 billion in net inflows); First Trust, $334 million, up M/M from $97 million, down Y/Y from $514 million; Jackson, $313 million (up M/M from $304 million, down Y/Y from $339 million); and Victory, $286 million (up M/M from $191 million, down Y/Y from $41 million in net outflows).

Vanguard took the active outflows lead last month, thanks to an estimated $6.189 billion in net September 2023 active outflows, down M/M from $6.299 billion in August 2023 and down Y/Y from $8.979 billion in September 2022. Other big September 2023 active outflows sufferers included: Capital Group (home of American Funds), $6.01 billion (down M/M from $6.672 billion, up Y/Y from $4.419 billion); Franklin Templeton, $2.533 billion (down M/M from $3.345 billion, up Y/Y from $3.685 billion); BlackRock, $2.455 billion (down M/M from $3.345 billion, down Y/Y from $3.685 billion); and T. Rowe Price, $2.266 billion (down M/M from $3.016 billion, down Y/Y from $4.619 billion).

Overall, the 145 passive fund firms tracked by the M* team (down M/M from 146, down Y/Y from 155) brought in an estimated $29.31 billion in net passive inflows in September 2023, up M/M from $9.869 billion and up Y/Y from $20.732 billion. 37.9 percent of those firms (55) brought in net passive inflows last month, down M/M from 45.9 percent (down 67) and down Y/Y from 40.6 percent (63).

The 711 active fund firms (down M/M from 714, down Y/Y from 727) suffered an estimated $41.556 billion in net September 2023 active outflows, up M/M from $34.337 billion but down Y/Y from $97.389 billion. 33.5 percent (238) of those firms brought in net active inflows last month, down M/M from 38.9 percent (278) and down Y/Y from 251 (34.5 percent).

Editor's Note: A prior version of this story gave the wrong number of passive fund firms tracked by Morningstar in August 2023 and September 2022. 

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




©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