Morningstar Reports U.S. Mutual Fund and ETF Asset Flows for August 2018

CHICAGO, Sept. 20, 2018 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) asset flows for August 2018. In August, investors placed $13.0 billion into passive U.S. equity funds, compared with outflows of $14.1 billion in the previous month. On the active front, investors pulled $14.4 billion, compared with $11.2 billion of outflows as reported last month. Morningstar estimates net flow for mutual funds by computing the change in assets not explained by the performance of the fund and net flow for ETFs by computing the change in shares outstanding.

Morningstar's report about U.S. asset flows for August 2018 is available here. Highlights from the report include:

• Long-term flows to U.S. open-end and exchange-traded funds dipped to an estimated $22.2 billion in August 2018 following July's $32.1 billion. Taxable-bond funds continue as the leading category group in August with $19.1 billion in inflows, although this was down from July's $25.2 billion.
• Within Morningstar categories, ultrashort-bond was the most popular with $9.7 billion in inflows, the category's greatest inflows in at least a decade. The large-value category was the least popular, with approximately $2.3 billion in outflows.
• Among top U.S. fund families, iShares posted the greatest inflows, with $15.8 billion. Other firms with top inflows include Vanguard and J.P. Morgan, with $8.0 billion and $4.3 billion, respectively. State Street Global Advisors saw approximately $8.2 billion in outflows in August, more than double any other firm. Behind State Street, Harbor, Franklin Templeton, and Columbia saw the highest outflows with $2.9, $2.2, and $1.7 billion, respectively. Each saw notable outflows from their active strategies with minimal cushioning from passive offerings.
• Among all U.S. open-end mutual funds and ETFs, Bridge Builder Core Plus Bond saw the most inflows of all active strategies at $1.6 billion. Harbor International, with a Morningstar Analyst Ratingtm of Bronze, saw $2.6 billion in outflows, more than any other active fund.
• Fidelity's newly launched zero-fee funds had their first full month of flows data. Fidelity Zero Total Market Index and Fidelity Zero International Index had inflows of $754.0 and $234.0 million, respectively.

To view the complete report, please click here.

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About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $203 billion in assets under advisement and management as of June 30, 2018. The company has operations in 27 countries.

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