The Boston Behemoth kept the lead last month in a big mutual fund niche as the group's inflows increased by more than $44 billion, according to the latest data from the folks at a publicly traded investment research firm.
| Abigail Pierrepont "Abby" Johnson FMR (dba Fidelity Investments) Chair, President, CEO | |
This article draws from
Morningstar Direct data on money market fund flows in the U.S. in January 2024, across 72 money fund firms. (That's down month-over-month from 73 firms in
December 2023.)
For a second consecutive month,
Fidelity led the money fund inflows pack, thanks to an estimated $26.102 billion in net January 2024 inflows, up M/M from $20.79 billion in December 2023 but down year-over-year from $27.313 billion in
January 2023. Other big January 2024 money fund inflows winners included:
SSGA, $14.595 billion (up M/M from $9.924 billion, up Y/Y from $19.155 billion in net outflows);
Schwab, $14.071 billion (up M/M from $5.813 billion, down Y/Y from $25.351 billion);
BNY Mellon (home of Dreyfus), $9.783 billion (up M/M from $4.664 billion, down Y/Y from $17.803 billion); and
J.P. Morgan, $9.227 billion (up M/M from $15.133 billion in net outflows, down Y/Y from $17.331 billion in net inflows).
RBC GAM led the way last month by a different measure, thanks to estimated net January 2024 money fund inflows equivalent to 26.3 percent of its money fund AUM. Other big inflows winners included:
Allianz Life, 15.3 percent; and
Equitable, 8.6 percent.
Yet
Northern Trust led the pack by a third measure, thanks to an estimated $390 million in net January 2024 inflows per money fund. Other big inflows winners included: Schwab, $352 million per fund; and SSGA, $332 million per fund.
On the flip side,
Morgan Stanley took the outflows lead last month, thanks to an estimated $13.624 billion in net January 2024 money fund outflows, down M/M from $8.06 billion in December 2023 inflows and down Y/Y from $23.871 billion in January 2023 outflows. Other big January 2024 money fund outflows sufferers included:
Goldman Sachs, $11.907 billion (down M/M from $31.304 billion, up Y/Y from $8.236 billion);
Allspring, $6.083 billion (down M/M from $1.382 billion in net inflows, up Y/Y from $5.875 billion in net outflows);
DWS, $3.593 billion (up M/M from $16 million, up Y/Y from $2.454 billion); and
Invesco, $1.446 billion (down M/M from $12.291 billion, down Y/Y from $7.259 billion in net inflows).
Meeder led the outflows pack by a second measure, thanks to estimated net January 2024 money fund outflows equivalent to 28 percent of its money fund AUM. Other big outflows sufferers included:
American Beacon, 14.9 percent; and
Plan Investment Fund, 11.9 percent.
Yet Morgan Stanley also led the outflows pack last month by a different measure, thanks to an estimated $155 million per money fund in net January 2024 outflows. Other big outflows sufferers included: Allspring, $129 million per fund; and
Edward Jones, $123 million per fund.
As a group, money funds brought in $71.126 billion in net January 2024 inflows, reaching $6.065 trillion in AUM and 2,108 funds on January 31, 2024. (That's equivalent to $33.741 million in net inflows per fund and translates into inflows of 1.2 percent of money fund AUM. 33 families brought in net money fund inflows last month.) That's up M/M from $26.811 billion in net inflows, $5.977 trillion in AUM, and 2,108 funds in December 2023, and up Y/Y from $26.527 billion in net inflows, $4.8 trillion in AUM, and 2,085 funds in January 2023. 
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