MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Tuesday, March 28, 2023 Fidelity Repeats With $31B The Boston Behemoth kept the lead last month among money fund firms as the group's inflows doubled.
The 73 money market fund families tracked by the M* team had $4.861 trillion in combined AUM across 2,085 funds as of February 28, 2023. That compares with 72 firms, $4.8 trillion, and 2.085 funds on January 31, 2023. 36 of those money fund firms brought in net inflows last month, up month-over-month from 33 in January. Fidelity led the way for a second month in a row, thanks to an estimated $30.56 billion in net February 2023 money fund inflows, up M/M from $27.313 billion in January 2023 and up year-over-year from $8.998 billion in February 2022/a>). Other big February 2023 money fund inflows winners included: Schwab, $23.534 billion (down M/M from $25.351 billion); Federated Hermes, $10.457 billion (up M/M from $13.681 billion in net outflows, up Y/Y from $3.562 billion in net outflows); Vanguard, $5.427 billion (down M/M from $5.705 billion, up Y/Y from $2.286 billion); and Morgan Stanley, $5.293 billion (up M/M from $23.871 billion in net outflows, up Y/Y from $2.487 billion in net outflows). Franklin Templeton led last month by a different measure, thanks to estimated net February 2023 money fund inflows equivalent to 53.5 percent of its money fund AUM. Other big winners included: RBC Global Asset Management, 23.5 percent; and Plan Investment Fund, 11.9 percent. And Schwab kept the lead by a third measure, thanks to an estimated $588 million in net February 2023 inflows per money fund. Other big winners included: Vanguard, $452 million per fund; and Fidelity, $291 million per fund. As of February 28, Fidelity leads the 2023 money fund inflows pack, thanks to an estimated $57.315 billion in year-to-date inflows. Other big YTD money fund inflows winners included: Schwab, $48.885 billion; and J.P Morgan, $15.616 billion. On the flip side, SSGA took the outflows lead last month, thanks to an estimated $8.775 billion in net February 2023 money fund outflows, down M/M from $19.155 billion in January 2023. Other big February 2023 money fund outflows sufferers included: BNY Mellon's Dreyfus, $6.7 billion (down M/M from $17.803 billion in net inflows, down Y/Y from $1.768 billion in net inflows); BlackRock, $5.26 billion (down M/M from $8.679 billion, down Y/Y from $10.957 billion); Northern Trust, $4.511 billion (down M/M from $5.805 billion in net inflows, down Y/Y from $4.524 billion in net outflows); and DWS, $3.595 billion (up M/M from $2.454 billion). Allianz Life took the outflows lead last month by a different measure, thanks to estimated net February 2023 outflows equivalent to 12.8 percent of its money fund AUM. Other big outflows sufferers included: DWS, 12.2 percent; and Davis, 9.3 percent. And Edward Jones took the outflows lead last month by a third measure, thanks to an estimated $391 million in net February 2023 outflows per money fund. Other big outflows sufferers included: SSGA, $199 million per fund; and Northern, $196 million per fund. As of February 28, SSGA leads the 2023 money fund outflows pack so far, thanks to an estimated $27.93 billion in net YTD outflows. Other big outflwos sufferers included: Morgan Stanley, $18.577 billion; and BlackRock, $13.939 billion. As a group, money fund firms brought in an estimated $51.442 billion in net money fund inflows in February 2023, equivalent to 1.06 percent of their combined AUM and translating into about $24.672 million per fund in net inflows. That's up M/M from $26.527 billion, 0.55 percent of AUM, and $12.732 million per fund in January 2023. Printed from: MFWire.com/story.asp?s=65770 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
