A giant retirement plan provider's asset management arm took the inflows lead last month among money funds, even as money funds' overall inflows returned, 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 fund flows in the U.S. in July 2024, across 73 firms. As a group, money funds brought in $21.338 billion in net July 2024 inflows, ending the month with $6.139 trillion in AUM across 2,127 funds. That compares with $8.414 billion in net outflows, $6.1 trillion in AUM, and 2,126 funds in June 2024 and with $15.01 billion in net inflows, $5.488 trillion in AUM, and 2,097 funds in July 2023.

Fidelity pulled ahead last month, thanks to an estimated $12.346 billion in net July 2024 money fund inflows, a $15.215-billion month-over-month improvement from June 2024 and an $8.618-billion year-over-year jump from July 2023. Other big July 2024 money fund inflows winners included: J.P. Morgan, $10.702 billion (an $11.586-billion M/M improvement, but down by $2.637 billion Y/Y); Schwab, $9.106 billion (up by $4.793 billion M/M, up by $954 million Y/Y); BlackRock, $7.772 billion (a $12.686-billion M/M improvement and a $12.563-billion Y/Y improvement); and HSBC, $7.159 billion (an $11.886-billion M/M improvement and up by $6.119 billion Y/Y).

There was at least one apparent money newcomer this month: Texas Capital.

For the trailing twelve months ending on July 31, Fidelity led the pack with an estimated $141.413 billion in net money fund inflows. Other big TTM money fund inflows winners included: Schwab, $120.295 billion; and Vanguard, $60.913 billion.

On the flip side, Invesco took the money fund outflows lead last month, thanks to an estimated $12.243 billion in net July 2024 money fund outflows, up by $10.795 billion M/M from June 2024 and up by $542 million Y/Y from July 2023. Other big July 2024 money fund outflows sufferers included: Goldman Sachs, $7.184 billon (an $11.319-billion M/M net flows drop, down by $3.251 billion Y/Y); Federated Hermes, $6.826 billion (up by $6.583 billion M/M, up by $6.158 billion Y/Y); Morgan Stanley, $4.039 billion (up by $1.544 billion M/M, down by $2.404 billion Y/Y); and UBS, $2.739 billion (a $3.901-billion net flows drop M/M, and a $4.219-billion net flows drop Y/Y).

As of July 31, Goldman led the TTM money fund outflows pack, thanks to an estimated $41.095 billion in net outflows. Other big outflows sufferers included: Invesco, $30.025 billion; and Morgan Stanley, $24.497 billion.

Money funds have brought in $435.28 billion in net inflows over the 12 months ending on July 31. 

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