MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, November 20, 2020 Money Fund Outflows Plunge 71 Percent The biggest money fund families' outflows fell by more than two-thirds last month, and they still have massive net inflows for 2020 so far.
BlackRock kept the lead last month, bringing in an estimated $10.297 billion in net money fund inflows, down from $14.119 billion in September. Other big October money fund inflows winners included: Morgan Stanley, $7.314 billion (up from $2.644 billion); and Fidelity, $4.449 billion (up from $13.832 billion in net outflows). Year-to-date as of the end of October, Fidelity kept the money fund inflows lead, thanks to an estimated $96.698 billion in net inflows. Other big YTD money fund inflows winners included: Wells Fargo, $92.686 billion; and BlackRock, $89.193 billion. On the flip side, October was a rough month for J.P. Morgan's money fund business, which led the outflows pack, thanks to an estimated $24.107 billion in net October outflows, up from $15.886 billion in September. Other big October money fund outflows sufferers included: Goldman Sachs, $20.092 billion (down from $53.523 billion); and Charles Schwab, $3.597 billion (down from $6.558 billion). Yet YTD, there is still only one big money fund firm with net outflows: Schwab, thanks to an estimated $14.124 billion in outflows. Overall, the ten biggest money fund families tracked by the M* team suffered an estimated $26.16 billion in net outflows last month, equivalent to one percent of their combined AUM. That's down from $89.194 billion in September. YTD, the 10 biggest money fund families have brought in an estimated $546.271 billion in net inflows, equivalent to 16 percent of their combined AUM. Editor's Note: A prior version of this story mischaracterized the data it draws on. To clarify, this article highlights the money fund flows of the 10 biggest money fund families. Printed from: MFWire.com/story.asp?s=62164 Copyright 2020, InvestmentWires, Inc. All Rights Reserved |
