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 |
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Wednesday, February 28, 2024 Fidelity Repeats As These Inflows Rise By $44B 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.
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. Printed from: MFWire.com/story.asp?s=67104 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
