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Vanguard assumes more assets; retail vs. institutional go separate ways

The 10 largest mutual fund providers took in about $74 billion during a volatile first quarter. Vanguard assumed the bulk of those inflows, with $39 billion in net new money. The quarter's inflows puts the index giant slightly behind pace relative to 2017 and 2016, when net flows totaled $207 billion and $184 billion, respectively. At one point in 2017, Vanguard was taking in an average $1 billion per day.

American Funds had a strong quarter, taking in about $12 billion.

Franklin Templeton (BEN) saw about $8.2 billion leave in the first quarter, after $28 billion in net outflows in 2017 and $42 billion in 2016. The outflows were exclusively from retail clients; institutional net inflows were around $160 million. T. Rowe Price had a similar experience, losing $1.9 billion in total despite $12.6 billion in institutional net inflows.