September was a mixed month for mutual fund and ETF fund flows but not for Vanguard, which took in more funds than any other fund family, according to Morningstar’s latest fund flow report.
Vanguard’s inflows totaled $11.7 billion in September and $29.1 billion for the third quarter, which it also led.
Unlike most other major asset managers except BlackRock, Vanguard saw inflows in both active and passive funds in September, boosted by its taxable bond fund flows, which collected a net $13.2 billion. (Morningstar adjusted Vanguard’s flow estimates to account for the $20 billion of assets from the Vanguard Total International Stock Index (VTIAX) that had been converted to a collective investment trust, which could have appeared as outflows.)
Following Vanguard in the competition for asset flows in September and the third quarter were BlackRock’s iShares and JPMorgan.
BlackRock’s iShares took in a net $3.7 billion in September, and its Core S&P 500 ETF had the greatest inflows of any other fund that month, equal to its $3.7 billion. Its international equity and taxable bond funds combined saw inflows of $2.5 billion. For the third quarter, BlackRock’s iShares took in a net $28.8 billion, within striking distance of Vanguard’s totals.