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  • msf August 2019
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Subadvised Fund Firm Is Back On Top, Proportionately

FYI: A broker-dealer's proprietary, subadvised fund family regained the lead last month, pound for pound.
Regards,
Ted
http://www.mfwire.com/common/artprint2007.asp?storyID=60105&wireid=2

Comments

  • What does "pound for pound" mean? ISTM that family net inflows per family AUM would be a reasonable metric. But this article talks about a family's net inflows per fund. It gives EJ as top gatherer ($75M/fund), with runners up gathering $65M/fund.

    By that metric, Vanguard seems to have done much better. Morningstar reports that Vanguard pulled in $14.9B in July. M*'s premium fund screener reports that Vanguard has 128 distinct mutual funds. That comes out to $116M/fund. (Note Vanguard reports 134 funds excluding MMFs.)

    Even if we count Vanguard's 59 ETFs (number from Vanguard site) as separate funds (though they're generally just another share class of OEF funds already counted), that brings us to 187 funds, give or take. That's $80M/fund, still enough to top the per-fund figure given for EJ.

    I don't know if "pound for pound" Vanguard was the top fund family. All I'm saying is that is that Vanguard and possibly others did better than the obscure fund families mentioned in the MF Wire piece. (Okay, Jensen isn't obscure.)

    Morningstar Reports U.S. Mutual Fund and Exchange-Traded Fund Flows for July 2019 ("News provided by Morningstar, Inc.)
    https://www.prnewswire.com/news-releases/morningstar-reports-us-mutual-fund-and-exchange-traded-fund-flows-for-july-2019-300902024.html

    If you're really into this data (why?), th3 wire story above contains a link to a seven page M* Direct report. (You have to provide name, email, etc. to receive it, but it's free.)
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