The database reveals that five mutual funds accounted for around half of the manager’s outflows in the first half, notably the US$73.4 billion Intermediate-Term Tax-Exempt Fund and the US$46 billion International Bond Index Fund, which together lost US$24.1 billion.
According to Morningstar Direct, the first half saw net inflows of US$3.1 billion for Vanguard’s passive mutual funds, which had US$3.2 trillion in assets as of June 30. Net inflows of US$103.2 billion also went to its US$1.8 trillion ETF line.
The firm received US$77.1bn in net inflows during the first half of the year across all of its US products, which include ETFs, mutual funds, collective investment trusts, and stable value funds, according to figures provided by the company.
“Vanguard has some of the biggest active funds out there, so you would expect that just on a plain dollar basis, they would have some of the biggest outflows,” Daniel Wiener, chair of Adviser Investments and editor of the Independent Adviser for Vanguard Investors, told the Times.
In terms of active mutual fund assets, Morningstar reports that only American Funds and Fidelity are ahead of the competition.
