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, January 29, 2021 Despite Rising Outflows, These Funds Had a $513B Year Despite rising outflows last month, the biggest money fund families still brought in more than half a trillion dollars last year.
Fidelity led the pack last year, thanks to an estimated $94.151 billion in net money fund inflows in 2020. Other big 2020 money fund inflows winners included: Morgan Stanley, $86.951 billion; and BlackRock, $81.792 billion. Last quarter, Morgan Stanley took the lead, thanks to an estimated $23.14 billion in net money fund inflows in Q4 2020, up from $8.141 billion in net outflows in Q3. Other big Q4 money fund inflows winners included: Goldman Sachs, $3.013 billion (up from $90.835 billion in net outflows); and BlackRock, $2.897 billion (down from $19.743 billion). Morgan Stanley also took the monthly lead in December, thanks to an estimated $15.663 billion in net money fund inflows, up from $163 million in November. Other big December money fund inflows winners included: BNY Mellon's Dreyfus, $9.007 billion (up from $7.592 billion in net outflows); and J.P. MorganM, $3.734 billion (up from $1.952 billion in net outflows). On the flip side, only one fund firm, Charles Schwab, suffered net money fund outflows in 2020. Schwab's money funds suffered an estimated $25.855 billion in net 2020 outflows. Last quarter, Federated Hermes took the money fund outflows lead, thanks to an estimated $24.571 billion in net Q4 money fund outflows, up from $18.665 billion in Q3. Other big Q4 money fund outflows sufferers included: Wells Fargo, $23.68 billion (down from $19.372 billion in net inflows); and J.P. Morgan, $22.326b billion (down from $28.241 billion). Yet BlackRock took the monthly money fund outflows lead in December, thanks to an estimated $27.47 billion in net money fund outflows, down from $20.069 billion in November inflows. Other big December money fund outflows sufferers included: Wells Fargo, $11.06 billion (down from $14.65 billion); and Federated Hermes, $7 billion (down from $16 billion). Overall, the ten biggest money fund families tracked by the M* team brought in an estimated $513.207 billion in net money fund flows in 2020. In Q4 2020, those money fund families suffered an estimated $59.224 billion in net outflows, down from $182.682 billion in Q3. In December 2020, those money fund families suffered an estimated $23.272 billion in net outflows, up from $9.792 billion in November. 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=62449 Copyright 2021, InvestmentWires, Inc. All Rights Reserved |
