June 15, 2012 / 3:22 PM / 5 years ago

Small fry MFS near top of May mutual fund inflows

(Reuters) - Money manager MFS, a unit of Sun Life Financial Inc (SLF.TO) (SLF.N), brought in $2.5 billion from stock and bond mutual fund customers in May, more than almost all its larger competitors, according to a report released on Friday by Morningstar.

Boston-based MFS, which oversees about $93 billion of long-term funds, ranked third in overall inflow for the month, trailing only Vanguard Group, which garnered $8.1 billion, and the fund unit of JPMorgan Chase & Co.(JPM.N), which got $2.6 billion, Morningstar said.

For the month, MFS, ranked 15th in total long-term fund assets, outpaced bigger firms including second-ranked American Funds, which experienced $4.7 billion of outflow, third-ranked Fidelity Investments, which had $1.3 billion of outflow, and fourth-ranked PIMCO, which had $1.7 billion of inflow.

In total long-term fund assets, Vanguard ranks first, with$1.4 trillion, and JPMorgan ranks seventh, overseeing $156 billion, Morningstar said.

The May ranking for MFS marks a high point in the firm’s recovery from missteps in the last decade that led to years of outflows. Investors have been adding money to MFS funds more recently as performance improved, particularly at its value stock fund, which collected $1.3 billion alone in May.

DoubleLine Funds, started by star bond fund manager Jeffrey Gundlach in 2010, continued its torrid pace of inflows in May, as customer added another $1.7 billion. That represented an annualized growth rate of 242 percent for the Los Angeles firm which had about $29 billion in fund assets. The firm has brought in $10.5 billion so far in 2012, Morningstar said.

Estimated flows from investment researcher Morningstar exclude money market funds and exchange-traded funds.

Reporting By Aaron Pressman; Editing by Leslie Gevirtz

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