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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