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 |
|
Tuesday, February 28, 2023 Fidelity's Inflows Rise to $27B The Boston Behemoth took the lead last month among money fund firms, even as the group's inflows fell by two-thirds.
The 72 money market fund families tracked by the M* team had $4.8 trillion in combined AUM across 2,085 funds as of January 31, 2023. That compares with 74 firms, $4.738 trillion, and 2,083 fund as of December 31, 2022. 33 of those money fund firms brought in net inflows last month, down M/M from 44 in December. Fidelity took the lead last month, thanks to an estimated $27.313 billion in net January 2023 money fund inflows, up M/M from $26.585 billion in December 2022 and up year-over-year from $4.714 billion in net outflows in January 2022. Other big January 2023 money fund inflows winners included: Schwab, $25.351 billion (down M/M from $27.146 billion); BNY Mellon's Dreyfus, $17.803 billion (down M/M from $20.834 billion, up Y/Y from $8.395 billion in net outflows); J.P. Morgan, $17.331 billion (down M/M from $18.041 billion, up Y/Y from $10.871 billion in net outflows); and UBS, $9.05 billion (up M/M from $9.003 billion). Gabelli led the way last month by a different meausre, thanks to estimated net January 2023 money fund inflows equivalent to 23.8 percent of its money fund AUM. Other big winners included: Resolute's American Beacon, 17 percent; and UBS, 11.9 percent. And Schwab led the way by a third measure, thanks to an estimated $634 million in net January 2023 inflows per money fund. Other big winners included: Vanguard, $475 million per fund; and UBS, $335 million per fund. On the flip side, Morgan Stanley took the outflows lead last month, thanks to an estimated $23.871 billion in net January 2023 money fund outflows, up M/M from $2.231 billion in December 2022 and up Y/Y from $15.482 billion in January 2022. Other big January 2023 money fund outflows sufferers included: SSGA, $19.155 billion (up M/M from $1.34 billion); Federated Hermes, $13.681 billion (down M/M from $28.244 billion in net inflows, down Y/Y from $20.003 billion in net outflows); BlackRock, $8.679 billion (down M/M from $80 million in net inflows, down Y/Y from $31.71 billion in net outflows); and Goldman Sachs, $8.236 billion (down M/M from $41.207 billion, down Y/Y from $14.198 billion). Guggenheim's Rydex took the outflows lead by a different measure last month, thanks to estimated net January 2023 outflows equivalent to 47 percent of its money fund AUM. Other big outflows sufferers included: City National Rochdale, 28.2 percent; and Davis, 20.4 percent. And SSGA took the outflows lead last month by a third measure, thanks to an estimated $435 million in net January 2023 outflows per money fund. Other big outflows sufferers included: Edward Jones, $304 million per fund; and Morgan Stanley, $271 million per fund. As a group, money fund firms brought in an estimated $26.527 billion in net inflows in January 2023, equivalent to 0.55 percent of their combined AUM and translating into $12.723 million per fund in net inflows. That's down from $80.422 billion, 1.7 percent of AUM, and $38.609 million per fund in December 2022. Printed from: MFWire.com/story.asp?s=65643 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
