Axonic in MutualFundWire.com: A Gotham Shop Shines Amidst October 2023 Fund Outflows

Nov 28, 2023 | In the News

MuturalFundWire.com recently announced that Axonic has emerged as the leader in attracting inflows into smaller firms for October 2023, according to Morningstar Direct data on 2023 mutual fund and ETF flows, which excluded money market funds and fund of funds. Morningstar’s analysis focused on 497 firms that have fewer than ten long-term mutual funds and ETFs. Axonic secured the top position with an estimated $184 million in net inflows – a significant increase from $72 million in September 2023 and a notable improvement from the $2 million net outflows recorded in October 2022.

In contrast to Axonic’s success in the space, the broader industry faced challenges throughout the month, with the 779 tracked firms experiencing an estimated $49.3 billion in net outflows and a total AUM of $23.6 trillion across 42,413 funds. This reflects a decline from September 2023, which saw $12.2 billion in net outflows and an AUM of $24.2 trillion in AUM across 42,226 funds. Overall, for the first ten months of 2023, investment firms collectively suffered $8.2 billion in net outflows.

Click here to read the entire MuturalFundWire.com article. If you have any questions regarding mutual fund and ETF flows, please do not hesitate to contact us.

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