Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Q3 Hurt, But It Couldn't Spoil Money Funds' 2020 Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 23, 2020

Q3 Hurt, But It Couldn't Spoil Money Funds' 2020

Reported by Neil Anderson, Managing Editor

Despite a painful third quarter, money funds have still had a massive 2020 so far.

Laurence D. "Larry" Fink
BlackRock
Chairman, CEO
This article draws from Morningstar Direct data on money market mutual fund flows in the U.S. in September 2020.

Of the 10 money fund families tracked by the M* team, only three brought in net inflows last month. BlackRock took the lead with an estimated $14.119 billion in net inflows (equivalent to three percent of its money fund AUM), up from $6.046 billion in August. The other September money fund inflows winners were: Wells Fargo, $5.067 billion (down from $9.312 billion); and Morgan Stanley, $2.644 billion (up from $2.02 billion in net outflows).

In Q3, only two money fund firms netted inflows: BlackRock brought in $19.473 billion (five percent of AUM), while Wells brought in $19.372 billion (nine percent of AUM).

Year-to-date as of the end of September, Fidelity topped the money fund inflows list, thanks to an estimated $92.249 billion in net inflows, equivalent to 11.3 percent of its AUM. Other big YTD inflows winners included: Wells, $90.656 billion; and BlackRock, $78.896 billion.

On the flip side, September was another rough month for Goldman Sachs' money fund business, which again led the pack, this time thanks to an estimated $53.523 billion in net September outflows, equivalent to 17 percent of its money fund AUM and up from $50.025 billion in August. Other big September outflows sufferers included: J.P. Morgan, $15.886 billion (up from $1.839 billion); and Federated Hermes, $15.697 billion (down from $625 million in net inflows).

Goldman also led the Q3 money fund outflows pack, thanks to an estimated $90.835 billion in net outflows, equivalent to 29 percent of its money fund AUM. Other big Q3 outflows sufferers included: Fidelity, $42.374 billion; and J.P. Morgan, $28.241 billion.

Schwab is the only money fund that has suffered net outflows YTD: $11.545 billion, equivalent to 11 percent of its money fund AUM.

Overall, those ten money fund families sufferened an estimated $89.194 billion in net September money fund outflows, equivalent to three percent of their combined money fund AUM (up from $51.898 billion and 1.4 percent in August). That's compared with $10.736 billion in net long-term fund inflows in September.

In Q3, money funds suffered an estimated $182.682 billion in net outflows, equivalent to five percent of their combined AUM. Yet despite that, in the first nine months of 2020 money funds brought in an estimated $572.431 billion in net inflows, equivalent to 16.3 percent of their combined AUM. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. ETF.com Awards 2020, April 20
  2. The 31st Sub-Advised Funds Forum, Apr 20-21
  3. IDC Virtual Roundtable: Florida - April 2021, April 20
  4. IMEA Marketing Council Roundtable | Engaging Advisors In a Virtual World, April 21
  5. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  6. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  7. IDC Virtual Roundtable: Alabama, Georgia, North Carolina, and South Carolina - April 2021, April 22
  8. IDC Webinar: The Future of the Workplace - April 2021, April 23
  9. IDC Virtual Roundtable: Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas - April 2021, April 27
  10. MFDF Case Studies in Fund Oversight — A Virtual Roundtable for Directors, Apr 28-29
  11. IDC Virtual Roundtable: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota - April 2021, April 29
  12. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  13. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  14. ICI 2021 General Membership Meeting - Day 1, May 6
  15. Emerging Manager Forum USA, May 12-14
  16. ICI 2021 General Membership Meeting - Day 2, May 13
  17. 2021 FINRA Annual Conference, May 18-20
  18. IDC Speaker Series - Abby Joseph Cohen: A Conversation About the State of the Global Markets, May 19
  19. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  20. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  21. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  22. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20
  23. ICI 2021 Operations and Technology Conference, May 20
  24. MFDF webinar - Board Oversight of a Fund's Derivatives Risk Management and Fund Compliance With Rule 18f-4, May 24
  25. MFDF webinar - The Use of Alternative Data Sources and Considerations for Fund Directors, May 26
  26. IDC 2021 Virtual Fund Directors Workshop, June 3




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use