Flows into money funds fell by nearly 71 percent last month, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on money market mutual fund flows in the U.S. in January 2025, across 75 money fund firms. (That's up by three firms year-over-year from January 2024.)

J.P. Morgan took the lead last month, thanks to an estimated $16.874 billion in net January 2025 money fund inflows, down by $9.224 billion month-over-month from December 2024 but up by $7.647 billion Y/Y from January 2024. Other big January 2025 money fund inflows winners included: Schwab, $11.912 billion (up by $2.888 billion M/M, down by $2.159 billion Y/Y); Vanguard, $9.955 billion (up by $6.2 billion M/M, up by $6.72 billion Y/Y); BNY Mellon's Dreyfus, $8.776 billion (up by $7.934 billion M/M, down by $1.007 billion Y/Y); and HSBC, $8.312 billion (up by $7.336 billion M/M, up by $7.41 billion Y/Y).

Over the twelve months ending January 31, 2025, Fidelity led the pack thanks to an estimated $132.903 billion in net inflows. Other big TTM inflows winners included: J.P. Morgan, $101.999 billion; and Schwab, $94.724 billion.

On the flip side, BlackRock took the outflows lead last month, thanks to an estimated $18.633 billion in net January 2025 money fund outflows, a $21.407-billion net flows drop M/M from December 2024 and up by $17.819 billion Y/Y from January 2024. Other big January 2025 outflows sufferers included: Goldman Sachs, $16.224 billion (a $41.99-billion net flows drop M/M, up by $4.317 billion Y/Y); Allspring, $6.529 billion (a $9.221-billion net flows drop M/M, up by $446 million Y/Y); Morgan Stanley, $1.676 billion (a $14.402-billion net flows drop M/M, down by $11.948 billion Y/Y); and State Street's SSGA, $1.49 billion (down by $5.135 billion M/M, a $16.085-billion net flows drop Y/Y).

SEI led the money fund outflows pack TTM as of January 31, 2025, thanks to an estimated $2.859 billion in net outflows. Other big outflows sufferers included: Franklin Templeton, $2.613 billion; and RBC, $2.584 billion.

As a group, money funds brought in $32.57 billion in net January 2025 inflows (down by $78.187 billion M/M, down by $38.556 billion Y/Y). On January 31, 2025, the money fund industry held $6.886 trillion in AUM (up by $51 billion M/M, up by $821 billion Y/Y) across 2,147 funds (up by 1 M/M, up by 39 Y/Y).

As of January 31, 2025, money funds brought in $641.17 billion in net TTM inflows. 

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