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Wednesday, December 22, 2021

Proportional Inflows Fall 28 Percent

Reported by Neil Anderson, Managing Editor

Proportional industry inflows have fallen 28 percent in the past year.

Will Hershey
Roundhill Financial, Inc. (dba Roundhill Investments)
Co-Founder, CEO
This article draws from Morningstar Direct data on November 2021 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.)

Roundhill Financial took the lead last month, thanks to an estimated $161 million per fund in net November 2021 inflows, up month-over-month from $7 million per fund in October 2021 and up year-over-year from $1 million per fund in November 2020. Other big November 2021 inflows winners included: Edward Jones' Bridge Builder, $102 million per fund (down M/M from $108 million per fund, up Y/y from $50 million per fund); Vanguard, $69 million per fund (up M/M from $46 million per fund, up Y/Y from $47 million per fund); newcomer OneAscent, $50 million per fund; and Canyon Partners' River Canyon, $40 million per fund (down M/M from $122 million per fund, up Y/y from $6 million per fund).

Bridge Builder still leads the pack proportionately so far in 2021, thanks to an estimated $1.576 billion per fund in net 2021 inflows as of November 30, 2021. Other big year-to-date inflows winners included: Ark, $1.105 billion per fund; and Dodge & Cox, $914 million per fund.

Ark leads the pack proportionately for the 12-month period ending November 30, 2021, thanks to an estimated $2.017 billion per fund in net inflows. Other big inflows winners included: Bridge Builder, $1.644 billion per fund; and Vanguard, $898 million per fund.

On the flip side, Ark led the outflows pack last month, suffering an estimated $164 million per fund in net November 2021 outflows, up M/M from $18 million per fund in October 2021 but down Y/Y from $406 million per fund in net inflows in November 2020. Other big November 2021 outflows sufferers included: Primecap, $78 million per fund (up M/M from $73 million per fund, down Y/Y from $190 million per fund); Sequoia, $50 million per fund (up M/M from $39 million per fund, down Y/Y from $51 million per fund); Jackson Square, $38 million per fund (up M/M from $1 million per fund, down Y/Y from $3 million per fund in net inflows); and Dodge & Cox, $34 million per fund (down M/M from $108 million per fund in net inflows, down Y/Y from $284 million per fund).

Primecap still leads the outflows pack proportionately in 2021, as of November 30, thanks to an estimated $919 million per fund in net YTD outflows. Other big outflows sufferers included: Sunbridge Capital Partners, $851 million per fund; and Sequoia, $288 million per fund.

The same three firms also led the outflows pack for the 12-month period ending November 30, 2021: Primecap with $1.225 billion per fund in net outflows, Sunbridge with $857 million per fund, and Sequoia with $321 million per fund.

The whole long-term, U.S. mutual fund and ETF industry brought in an estimated 1.947 million per fund in November 2021 inflows. That's down from $2 million per fund in October 2021 and $2.712 million per fund in November 2020.

In 2021, as of November 30, long-term funds have brought in $27.017 million per fund in net YTD inflows. And for the 12-month period ending November 30, 2021, they brought in $29.426 million per fund. 

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