A Midwestern fund firm kept the inflows lead last quarter among midsize fund firms, as the group's overall net flows jumped by 160 percent, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on September 2024 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.) More specifically, this article focuses on the 210 firms (up by one month-over-month from August 2024 and up by three year-over-year from August 2023) with between 10 and 99 long-term mutual funds and ETFs each.

Baird (including Strategas) kept the lead in the third quarter 2024 for a second quarter in a row, up by $453 million quarter-over-quarter from Q2 2024 and up by $2.121 billion Y/Y from Q3 2023. Other big Q3 2024 inflows winners included: Dodge & Cox, $3.532 billion (up by $2.722 billion Q/Q and up by $1.515 billion Y/Y); Edward Jones' GQG, $652 million (down by $1.402 billion Q/Q, down by $85 million Y/Y); and Causeway, $158 million (down by $1.301 billion Q/Q, up by $171 million Y/Y).

Baird also took the lead last month, thanks to $2.471 billion in net September 2024 inflows. Other big inflows winners included: KraneShares, $1.607 billion; and Dodge & Cox, $1.549 billion.

On the flip side, Grayscale led the outflows pack for a third consecutive quarter in a row, thanks to an estimated $3.715 billion in net Q3 2024 outflows, up by $80 million Q/Q from Q2 2024 and up by $3.715 billion Y/Y from Q3 2023. Other big Q3 2024 outflows sufferers included: Harding Loevner, $2.055 billion (up by $1.025 billion Q/Q, up by $730 million Y/Y); Baron, $1.489 billion (up by $205 million Q/Q, up by $1.391 billion Y/Y); Parnassus, $1.27 billion (down by $205 million Q/Q, up by $449 million Y/Y); and Artisan, $1.133 billion.

Grayscale also led the outflows pack for a fourth month in a row, thanks to an estimated $436 billion in net September 2024 outflows. Other big outflows sufferers included: Parnassus, $428 million; and Harding Loevner, $362 million.

As a group, midsize firms brought in $8.945 billion in September 2024 inflows, and they ended the month with $1.809 trillion in combined AUM across 5,989 funds. That compares with $1.703 trillion and 5,912 funds on August 31, 2024, with $1.638 trillion and 5,899 funds on June 30, 2024, and with $1.409 trillion and 5,590 funds on September 30, 2023.

As of September 30, 2024, midsize firms accounted for 5.9 percent of industry long-term fund AUM and 13.9 percent of long-term funds.

Midsize firms brought in $13.448 billion in net Q3 2024 inflows, up by $8.266 billion Q/Q and up by $11.166 billion Y/Y.

Across the whole industry, the 793 firms (up by two M/M and by 13 Y/Y) tracked by the M* team brought in about $54.963 billion in net September 2024 inflows. (That's up by $28.864 billion M/M and up by $67.209 billion Y/Y.) The industry ended September 2024 with $30.559 trillion in AUM across 43,123 funds. (That's up by $566 billion and 232 funds M/M, up by $1.831 trillion and 309 funds Q/Q, and up by $6.404 trillion and 854 funds Y/Y.)

In Q3 2024, the industry brought in $163.658 billion in net inflows. (That's up by $70.283 billion Q/Q and up by $159.82 billion Y/Y.) 

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