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 |
|
Friday, June 28, 2024 Money Funds Make a $74B Turnaround After a two-month break, money fund inflows are back, according to the latest data from the folks at a publicly traded investment research firm.
BlackRock took the money fund inflows lead last month, thanks to an estimated $11.132 billion in net May 2024 inflows, up month-over-month by $6.117 from April 2024 but down Y/Y by $4.186 billion from May 2023. Other big May 2024 inflows winners included: Schwab, $9.933 billion (up M/M by $12.015 billion but down Y/Y by $5.326 billion); Fidelity, $9.82 billion (up M/M by $25.57 billion, down Y/Y by $26.33 billion); J.P. Morgan, $9.698 billion (up M/M by $6.789 billion, down Y/Y by $43.908 billion); and Goldman Sachs, $8.196 billion (down M/M by $4.645 billion, up Y/Y by $4.795 billion). Fidelity still leads the money fund inflows pack over a longer time horizon, thanks to an estimated $133.788 billion in net trailing 12 months money fund inflows as of May 31, 2024. Other big TTM inflows winners included: Schwab, $124.355 billion; and Vanguard, $64.632 billion. On the flip side, DWS took the money fund outflows lead last month, thanks to an estimated $4.418 billion in net May 2024 outflows, up M/M by $2.859 billion from April 2024 and up Y/Y by $3.153 billion from May 2023. Other big May 2024 money fund outflows sufferers included: HSBC, $3.275 billion (up M/M by $286 million, a $7.498-billion net flows drop Y/Y); BNY Mellon's Dreyfus, $2.336 billion (a $2.509-billion net flows drop M/M, down Y/Y by $40 million); Edward Jones, $479 million (up M/M by $93 million, up Y/Y by $283 million); and SEI, $301 million (down M/M by $242 million, and a $545-million net flows drop Y/Y). Goldman led the money fund outflows pack with $61.186 billion in TTM outflows as of May 31, 2024. Other big outflows sufferers included: Invesco, $24.592 billion; and Morgan Stanley, $14.003 billion. As a group, money funds brought in $62.517 billion in net May 2024 inflows, equivalent to 29 million in net inflows for each of the 2,123 money funds tracked by the M* team and 1.03 percent of the $6.087 trillion in money fund AUM. (That compares with $11.611 billion in net outflows, 2,122 funds, and $6.01 trillion in AUM in April 2024, and with $153.13 bilion in net inflows, 2,087 funds, and $5.429 trillion in AUM in May 2023.) For the TTM ending May 31, 2024, money funds brought in $452.367 billion in net inflows. Printed from: MFWire.com/story.asp?s=67599 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
