The Boston Behemoth took the lead last month as money market mutual fund flows more than doubled last month, according to the latest data from the folks at a publily traded investment research firm.

This article draws from Morningstar Direct data on money market fund flows in the U.S. in August 2025, across 74 money fund firms. (That's up by one firm month-over-month from July 2025 but down by one firm year-over-year from August 2024.)

Fidelity took the lead last month, thanks to an estimated $29.693 billion in net August 2025 money fund inflows, up by $19.084 billion M/M from July 2025 but down by $3.994 billion Y/Y from August 2024. Other big August 2025 money fund inflows winners included:

J.P. Morgan, $23.388 billion (up by $11.695 billion M/M, up by $23.264 billion Y/Y);

BlackRock, $12.597 billion (up by $3.19 billion M/M, down by $20.058 billion Y/Y);

U.S. Bank's First American, $9.842 billion (up by $14.305 billion M/M, up by $6.33 billion Y/Y); and

BNY Mellon (including Dreyfus), $8.652 billion (up by $1.63 billion M/M, up by $1.054 billion Y/Y).

Atlas was an apparent money fund newcomer last month.

Fidelity also led the inflows pack over the last year, thanks to an estimated $163.854 billion in net money fund inflows over the trailing twelve months ending August 31, 2025. Other big TTM inflows winners included: J.P. Morgan, $115.111 billion; and BlackRock, $92.34 billion.

On the flip side, Invesco took the outflows lead last month, thanks to an estimated $7.733 billion in net August 2025 money fund outflows, a $12.627-billion net flows drop M/M from July 2025 and down by $20 million Y/Y from August 2024. Other big August 2025 money fund outflows sufferers included:

Goldman Sachs, $5.769 billion (a $6.753-billion net flows drop M/M, a $13.461-billion net flows drop Y/Y);

Morgan Stanley, $3.045 billion (a $10.395-billion net flows drop M/M, up by $2.342 billion Y/Y);

State Street's SSIM (fka SSGA), $1.514 billion (down by $3.792 billion M/M, down by $674 million Y/Y); and

T. Rowe Price, $941 million (a $1.533-billion net flows drop M/M, a $1.244-billion net flows drop Y/Y).

Yet SEI led the outflows pack over the last year, thanks to an estimated $1.647 billion in net TTM money fund outflows as of August 31, 2025. Other big outflows sufferers included: Meeder, $580 million; and Jackson, $476 million.

On August 31, 2025, the money fund industry held:

$7.221 trillion in AUM (up by $127 billion M/M, up by $949 billion Y/Y),

across 2,153 money funds (up by 12 M/M, up by 11 Y/Y).

As a group, money funds brought in $109.633 billion in August 2025 inflows, equivalent to 1.52 percent of their combined AUM. That's up by $57.021 billion M/M but down by $4.763 billion Y/Y.

Money funds brought in $749.65 billion in net TTM inflows as of August 31, 2025. That's equivalent to 10.38 percent of their combined AUM. 

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