Institutional active managers took in $111 billion in 2018 through May 31, led by American Funds, T. Rowe Price and Dimensional, while Harbor, Wells Fargo and Principal had the most significant outflows. T. Rowe and Oakmark led their peers in new money during May. Oakmark's International Fund brought in about $3 billion during the month, while the T. Rowe Real Asset Fund brought in about $2 billion.
Institutional investors continue to pour money into PIMCO's Income Fund; the intermediate bond fund has seen $5.2 billion in net flows in 2018. American Fund's Tax-Exempt Bond Fund and the mainstay EuroPacific Growth fund added about $6.4 billion between them.
The concentration of inflows ticked up in May as more assets went to fewer managers. That concentration spiked during the first quarter of 2017 and has trended downward since.