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Rating:Despite Rising Outflows, These Funds Had a $513B Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, January 29, 2021

Despite Rising Outflows, These Funds Had a $513B Year

Reported by Neil Anderson, Managing Editor

Despite rising outflows last month, money funds still brought in more than half a trillion dollars last year.

Abigail "Abby" Pierrepont Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO
This article draws from Morningstar Direct data on money market mutual fund flows in the U.S. in December 2020.

Fidelity led the pack last year, thanks to an estimated $94.151 billion in net money fund inflows in 2020. Other big 2020 money fund inflows winners included: Morgan Stanley, $86.951 billion; and BlackRock, $81.792 billion.

Last quarter, Morgan Stanley took the lead, thanks to an estimated $23.14 billion in net money fund inflows in Q4 2020, up from $8.141 billion in net outflows in Q3. Other big Q4 money fund inflows winners included: Goldman Sachs, $3.013 billion (up from $90.835 billion in net outflows); and BlackRock, $2.897 billion (down from $19.743 billion).

Morgan Stanley also took the monthly lead in December, thanks to an estimated $15.663 billion in net money fund inflows, up from $163 million in November. Other big December money fund inflows winners included: BNY Mellon's Dreyfus, $9.007 billion (up from $7.592 billion in net outflows); and J.P. MorganM, $3.734 billion (up from $1.952 billion in net outflows).

On the flip side, only one fund firm, Charles Schwab, suffered net money fund outflows in 2020. Schwab's money funds suffered an estimated $25.855 billion in net 2020 outflows.

Last quarter, Federated Hermes took the money fund outflows lead, thanks to an estimated $24.571 billion in net Q4 money fund outflows, up from $18.665 billion in Q3. Other big Q4 money fund outflows sufferers included: Wells Fargo, $23.68 billion (down from $19.372 billion in net inflows); and J.P. Morgan, $22.326b billion (down from $28.241 billion).

Yet BlackRock took the monthly money fund outflows lead in December, thanks to an estimated $27.47 billion in net money fund outflows, down from $20.069 billion in November inflows. Other big December money fund outflows sufferers included: Wells Fargo, $11.06 billion (down from $14.65 billion); and Federated Hermes, $7 billion (down from $16 billion).

Overall, the ten money fund families tracked by the M* team brought in an estimated $513.207 billion in net money fund flows in 2020.

In Q4 2020, those money fund families suffered an estimated $59.224 billion in net outflows, down from $182.682 billion in Q3.

In December 2020, those money fund families suffered an estimated $23.272 billion in net outflows, up from $9.792 billion in November. 

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