The world largest asset manager and ETF shop took the inflows lead last quarter, according to the latest data from the folks at a publicly traded investment research firm.

Laurence D. "Larry" Fink BlackRock Chairman, CEO

This article draws from Morningstar Direct data on June 2024 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 seven firms (down quarter-over-quarter from eight in March 2024) with at least 1,000 long-term mutual funds and ETFs each.

BlackRock (including iShares) took the lead last quarter, thanks to an estimated $62.293 billion in net inflows in the second quarter of 2024, up by $20.022 billion Q/Q and up by $41.505 billion year-over-year from Q2 2023. Other big Q2 2024 inflows winners included: Fidelity, $25.253 billion (down by $29.862 billion Q/Q, up by $16.02 billion Y/Y); and Invesco, $14.473 billion (down by $3.352 billion Q/Q, up by $10.738 billion Y/Y).

BlackRock also led the pack last month, thanks to an estimated $41.554 billion in net June 2024 inflows. Other big inflows winners included: Fidelity, $8.108 billion; and J.P. Morgan (including Six Circles), $4.944 billion.

On the flip side, Franklin Templeton (including Putnam and Royce) led the outflows pack again last quarter, thanks to an estimated $7.837 billion in net Q2 2024 outflows, up by $1.435 billion Q/Q and up by $1.518 billion Y/Y. Other big Q2 2024 outflows sufferers included: Morgan Stanley (including Calvert and Eaton Vance), $3.437 billion (up by $3.015 billion Q/Q, up by $1.537 billion Y/Y); and Ameriprise's Columbia Threadneedle, $1.395 billion (up by $278 million Q/Q, down by $1.653 billion Y/Y.

Franklin also led the outflows pack for a ninth consecutive month, thanks to an estimated $2.566 billion in net June 2024 outflows. Other big outflows sufferers included: Columbia Threadneedle, $964 million; and Morgan Stanley, $713 million.

As a group, the seven largest fund firms brought in $55.219 billion in June 2024 inflows, ending the month with $8.455 trillion in AUM across 11,369 funds, with four of those firms netting inflows. Mega firms on Jun 30, 2024 accounted for 29.4 percent of industry long-term fund AUM, 26.6 percent of funds, and more than 100 percent of industry inflows.

Jumbo firms brought in $99.883 billion in net Q2 2024 inflows, accounting for more than 100 percent of industry inflows.

Across the whole industry, the 793 firms (up by two M/M and up by 11 Q/Q) tracked by the M* team brought in about $43.761 billion in net June 2024 inflows. The industry ended June 2024 with $28.728 trillion in AUM across 42,814 funds. (That's up by $455 billion and 140 funds M/M, up by $300 billion and 228 funds Q/Q, and up by $3.3 trillion and 760 Y/Y.

In Q2 2024, the industry brought in $91.375 billion in net inflows.

***This caveat is particularly important for large fund firms, many of which are big players in the 401(k) business, where collective investment trusts (CITs) and separately managed accounts (SMAs) are commonly used alternatives to traditional mutual funds. 

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