The Boston Behemoth took the lead last month among money fund firms, even as the group's inflows fell by two-thirds.

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 January 2023.

The 72 money market fund families tracked by the M* team had $4.8 trillion in combined AUM across 2,085 funds as of January 31, 2023. That compares with 74 firms, $4.738 trillion, and 2,083 fund as of December 31, 2022.

33 of those money fund firms brought in net inflows last month, down M/M from 44 in December.

Fidelity took the lead last month, thanks to an estimated $27.313 billion in net January 2023 money fund inflows, up M/M from $26.585 billion in December 2022 and up year-over-year from $4.714 billion in net outflows in January 2022. Other big January 2023 money fund inflows winners included: Schwab, $25.351 billion (down M/M from $27.146 billion); BNY Mellon's Dreyfus, $17.803 billion (down M/M from $20.834 billion, up Y/Y from $8.395 billion in net outflows); J.P. Morgan, $17.331 billion (down M/M from $18.041 billion, up Y/Y from $10.871 billion in net outflows); and UBS, $9.05 billion (up M/M from $9.003 billion).

Gabelli led the way last month by a different meausre, thanks to estimated net January 2023 money fund inflows equivalent to 23.8 percent of its money fund AUM. Other big winners included: Resolute's American Beacon, 17 percent; and UBS, 11.9 percent.

And Schwab led the way by a third measure, thanks to an estimated $634 million in net January 2023 inflows per money fund. Other big winners included: Vanguard, $475 million per fund; and UBS, $335 million per fund.

On the flip side, Morgan Stanley took the outflows lead last month, thanks to an estimated $23.871 billion in net January 2023 money fund outflows, up M/M from $2.231 billion in December 2022 and up Y/Y from $15.482 billion in January 2022. Other big January 2023 money fund outflows sufferers included: SSGA, $19.155 billion (up M/M from $1.34 billion); Federated Hermes, $13.681 billion (down M/M from $28.244 billion in net inflows, down Y/Y from $20.003 billion in net outflows); BlackRock, $8.679 billion (down M/M from $80 million in net inflows, down Y/Y from $31.71 billion in net outflows); and Goldman Sachs, $8.236 billion (down M/M from $41.207 billion, down Y/Y from $14.198 billion).

Guggenheim's Rydex took the outflows lead by a different measure last month, thanks to estimated net January 2023 outflows equivalent to 47 percent of its money fund AUM. Other big outflows sufferers included: City National Rochdale, 28.2 percent; and Davis, 20.4 percent.

And SSGA took the outflows lead last month by a third measure, thanks to an estimated $435 million in net January 2023 outflows per money fund. Other big outflows sufferers included: Edward Jones, $304 million per fund; and Morgan Stanley, $271 million per fund.

As a group, money fund firms brought in an estimated $26.527 billion in net inflows in January 2023, equivalent to 0.55 percent of their combined AUM and translating into $12.723 million per fund in net inflows. That's down from $80.422 billion, 1.7 percent of AUM, and $38.609 million per fund in December 2022. 

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