MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, October 31, 2023 $1.126T In a Year The money fund business has grown by $1.126 trillion over the last year, according to the latest data from the folks at a publicly traded investment research firm.
Fidelity now leads the 2023 money fund inflows pack so far, thanks to an estimated $181.799 billion in net year-to-date inflows as of September 30. Other big YTD inflows winners included: J.P. Morgan, $170.226 billion; Schwab, $145.928 billion; Vanguard, $65.401 billion; and Federated Hermes, $36.668 billion. Vanguard leads the way proportionately so far in 2023, thanks to an estimated $5.45 billion in net YTD inflows per money fund as of September 30. Other big inflows winners included: Schwab, $3.648 billion per fund; and Fidelity, $1.715 billion per fund. Schwab led the money fund inflows pack last quarter, thanks to an estimated $38.716 billion in net inflows in the third quarter. Other big Q3 2023 inflows winners included: Fidelity, $38.578 billion; and State Street's SSGA, $35.439 billion. Fidelity led the money fund inflows pack last month for the second time in a row, thanks to an estimated $15.215 billion in net September 2023 inflows, down month-over-month from $19.634 billion in August 2023 but up year-over-year from $793 million in September 2022. Other big September 2023 inflows winners included: Schwab, $13.634 billion (down M/M from $16.93 billion, down Y/Y from $17.273 billion); and SSGA, $8.892 billion (down M/M from $15.615 billion, up Y/Y from $2.771 billion in net outflows). On the flip side, Franklin Templeton still leads the 2023 money fund outflows pack so far, thanks to an estimated $11.816 billion in net YTD outflows as of September 30. Other big outflows sufferers included: Invesco, $5.912 billion; Edward Jones, $2.887 billion; BNY Mellon's Dreyfus, $2.634 billion; and HSBC, $1.579 billion. Edward Jones leads the 2023 money fund outflows pack proportionately, thanks to an estimated $1.443 billion in net YTD outflows per fund. Other big outflows sufferers included: Franklin, $215 million per fund; and Jackson, $112 million per fund. Invesco led the money fund outflows pack last quarter, thanks to an estimated $21.495 billion in Q3 2023 outflows. Other big outflows sufferers included: Goldman Sachs, $11.457 billion; and Morgan Stanley, $3.888 billion. Invesco also led the money fund outflows pack last month, thanks to an estimated $2.949 billion in net September 2023 outflows, down M/M from $6.845 billion in August 2023 but up Y/Y from $71 million in September 2022. Other big September 2023 outflows sufferers included: RBC GAM, $2.718 billion (down M/M from $3.306 billion in net inflows, up Y/Y from $921 million in net outflows); and Goldman, $2.02 billion (down M/M from $999 million in net inflows, down Y/Y from $12.624 billion in net inflows). As a group, the 72 money fund firms tracked by the M* team (down Y/Y from 73) brought in $60.841 billion in net September 2023 inflows, ending the month with $5.692 trillion in AUM across 2,099 funds. (September 2023 money fund inflows translated into 1.07 percent of money fund AUM and $29 million per fund. 41 firms netted money fund inflows.) That compares with $108.605 billion in net August 2023 inflows (with $5.615 trillion in AUM and 2,096 funds) and with $3.721 billion in net September 2022 inflows (with $4.566 trillion in AUM). Money fund families brought in $183.922 billion in net Q3 2023 inflows, which translates into 3.23 percent of their combined AUM and $88 million per fund. 43 money fund families brought in net Q3 2023 inflows. Over the first nine months of 2023, money fund families brought in $783.58 billion in net inflows, equivalent to 13.77 percent of their combined AUM and $373 million per fund. 45 money fund families have brought in net 2023 inflows YTD. Printed from: MFWire.com/story.asp?s=66632 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
