Daily Advisor News

Daily advisor movements showed a net flow drop of -$2.5B, led by steep declines at J O HAMBRO CAPITAL MANAGEMENT LIMITED and MAGELLAN INVESTMENT PARTNERS. Across reporting firms, $2.5B in total assets walked out the door against $991M in total gains. Net change across all filings settled at -$1.5B for the day.

On the positive side of the ledger, KARPUS INVESTMENT MANAGEMENT topped all gainers by adding $284.6M to reach $4.3B in regulatory AUM, a 7.1% increase. REX ADVISERS, LLC picked up $266.8M to bring its total to $1.8B, up 16.9%, while LRZ CAPITAL LLC lifted its asset base 35.4% by adding $130.8M to end at $500.8M.

The day's contractions were paced by J O HAMBRO CAPITAL MANAGEMENT LIMITED, which gave up $968.9M to close at $22.3B. MAGELLAN INVESTMENT PARTNERS was not far behind, dropping $948.6M to fall to $20.8B, while PASCAL INVESTMENT ADVISERS SA shed $157.6M to land at $716.7M.

In roster updates, DIVERSIFIED WEALTH ADVISORS, LLC was the lone new entrant with reported AUM, bringing in $138M. Exits were highlighted by QVR ADVISORS, which had reported $1.1B, and MAZE INVESTMENTS, LLC, which previously logged $46.1M.