Money continued to exit active funds in September - Morningstar

|By:, SA News Editor

Another $23.6B exited active U.S. equity funds in September, according to Morningstar. That's down from $25.4B which left the previous month.

Meanwhile, passive funds saw net inflows of $19.3B in September vs. $16.4B in August.

Vanguard topped the passive provider list with nearly $21B in inflows, with iShares (NYSE:BLK) and Fidelity next in line, and State Street (NYSE:STT) falling to fourth place with $1.5B of inflows. Alongside those passive inflows, Fidelity experienced $3.4B in outflows from its active funds.

Earlier today, BlackRock reported a Q3 earnings beat, with its iShares unit providing the vast majority of quarterly inflows.