MutualFundWire.com: Money Funds Break an 8-Month Streak
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Monday, April 28, 2025

Money Funds Break an 8-Month Streak


Money market mutual funds broke their eight-month inflows streak last month, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on money market fund flows in the U.S. in March 2025, across 78 money fund firms. (That's up by three firms month-over-month from February 2025, up by three quarter-over-quarter from December 2024, and up by five year-over-year from March 2024.)

Fidelity took the lead last quarter, thanks to an estimated $42.984 billion in net money fund inflows in the first quarter of 2025, up by $3.3 billion Q/Q from Q4 2024 and up by $6.08 billion Y/Y from Q1 2024. Other big Q1 2025 money fund inflows winners included:
  • Schwab, $39.514 billion (up by $10.791 billion Q/Q, up by $5.875 billion Y/Y);
  • Vanguard, $31.914 billion (up by $22.896 billion Q/Q, up by $15.762 billion Y/Y);
  • Invesco, $15.401 billion (up by $2.427 billion Q/Q, up by $16.926 billion Y/Y); and
  • J.P. Morgan, $4.497 billion (down by $62.612 billion Q/Q, up by $11.925 billion Y/Y).

    • Schwab took the lead last month, thanks to an estimated $14.68 billion in net money fund inflows in March 2025. Other big inflows winners included: Fidelity, $12.993 billion; and Vanguard, $11.403 billion.

    On the flip side, Goldman Sachs took the outflows lead last quarter, thanks to an estimated $19.765 billion in net Q1 2025 money fund outflows, a $72.629-billion net flows drop Q/Q from Q4 2024 and down by $6.943 billion Y/Y from Q1 2024. Other big Q1 2025 money fund outflows sufferers included:
  • State Street's SSGA, $15.706 billion (up by $4.418 billion Q/Q, up by $5.055 billion Y/Y);
  • BlackRock, $8.459 billion (a $43.613-billion net flows drop Q/Q, down by $70 million Y/Y);
  • Morgan Stanley, $6.073 billion (a $53.932-billion net flows drop Q/Q, down by $9.107 billion Y/Y); and
  • Allspring, $5.977 billion (a $25.463-billion net flows drop Q/Q, down by $10.43 billion Y/Y.

    • SSGA took the outflows lead last month, thanks to an estimated $15.272 billion in net March 2025 money fund outflows. Other big outflows sufferers included: J.P. Morgan, $13.139 billion; and Goldman, $9.793 billion.

    As a group, money fund firms suffered $30.574 billion in net March 2025 outflows (a $110.008-billion net flows drop M/M, down by $60.829 billion Y/Y), their first monthly outflows since June 2024). On March 31, 2025, the money fund industry held $6.957 trillion in AUM (down by $16 billion M/M, up by $122 billion Q/Q, up by $953 billion Y/Y) across 2,149 money market mutual funds (up by 1 M/M, up by 3 Q/Q, up by 28 Y/Y).

    In Q1 2025, money funds brought in $80.361 billion in net inflows. That's down by $274.785 billion Q/Q but up by $63.18 billion Y/Y.


    Printed from: MFWire.com/story.asp?s=69833

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