A brokerage giant's asset management arm leads again as large fund firms' marketshare rises, despite a 76-percent inflows drop.

Jonathan Christian de St. Paer Charles Schwab Investment Management, Inc. President, CEO

This article draws from Morningstar Direct data for January 2022 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like collective trusts and SMAs, are also not included.) More specifically, this article focuses on the 25 firms with between $100 billion and $500 billion each in long-term fund AUM.

Large fund firms had a combined $5.137 trillion in long-term fund AUM as of January 31, 2022, and they accounted for 19.23 percent of overall industry long-term fund AUM. That compares with $5.345 trillion and 19.03 percent on December 31, 2021.

12 large fund firms brought in net long-term fund inflows last month, down from 14 in December.

Charles Schwab kept the lead for the fourth month in a row, thanks to an estimated $4.581 billion in net January 2022 inflows, up month-over-month from $3.757 billion in December 2021 and up year-over-year from $3.758 billion in January 2021. Other big January 2022 inflows winners included: DFA, $1.937 billion (up M/M from $1.206 billion in net outflows, up Y/Y from $2.312 billion in net outflows); Goldman Sachs, $1.477 billion (up M/M from $1.147 billion, down Y/Y from $1.687 billion); Baird (including Strategas), $1.124 billion (up M/M from $811 million, down Y/Y from $1.726 billion); and PGIM, $807 million (up from $1.182 billion in net outflows, down Y/y from $2.284 billion).

On the flip side, Ameriprise's Columbia Threadneedle led the large fund firm outflows pack last month, thanks to an estimated $2.076 billion in net January 2022 outflows, down M/M from $785 million in December 2021 inflows and down Y/Y from $1.018 billion in January 2021 inflows. Other big January 2022 outflows sufferers included: Macquarie's Delaware, $1.214 billion (down M/M from $1.438 billion, up Y/Y from $193 million); Jackson, $1.162 billion (up M/M from $662 million, down Y/Y from $1.183 billion); Janus Henderson, $1.073 billion (down M/M from $147 million in net inflows, up Y/Y from $564 million); and Morgan Stanley (including Eaton Vance and Calvert), $1.049 billion (down M/M from $2.059 billion, down Y/Y from $614 million in net inflows).

As a group, the 25 large fund firms brought in an estimated $1.819 billion in net January 2022 inflows, equivalent to 0.04 percent of their combined AUM and accounting for 20.35 percent of overall industry inflows. That compares with $7.473 billion, 0.14 percent of AUM, and 8.53 percent of flows in December 2021.

Across the entire industry, the 797 firms tracked by the M* team (down M/M from 799 but up Y/Y from 753) brought in an estimated $8.936 billion in net January 2022 inflows, equivalent to 0.03 percent of overall long-term fund AUM of $26.709 trillion on January 31, 2022. That's down M/M from $87.633 billions in December 2021 inflows, equivalent to 0.31 percent of $28.084 trillion in AUM and down Y/Y from $95.454 billion in January 2021 inflows, equivalent to 0.4 percent of $23.732 trillion in AUM.

Passive funds brought in $22.087 billion in net long-term fund inflows in January 2022, down M/M from $95.932 billion and down Y/Y from $54.591 billion. Active funds suffered $13.138 billion in net long-term fund outflows in January 2022, up M/M from $8.299 billion but down Y/Y from $40.836 billion in net inflows.

Editor's Note: A prior version of this story's headline and opening gave the wrong market segment. To clarify, this article focuses on large fund firms with between $100 billion and $500 billion each in long-term fund AUM. 

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