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, December 19, 2023 Money Funds Bounce Back With $185B Last month, the money fund business returned to net inflows after a brief reversal, according to the latest data from the folks at a publicly traded investment research firm.
J.P. Morgan took the money fund inflows lead last month, thanks to an estimated $45.433 billion in net November 2023 money fund flows, up month-over-month from $2.452 billion in net outflows in October 2023 and up year-over-year from $3.133 billion in net outflows in November 2022. Other big November 2023 money fund inflows winners included: Fidelity, $25.523 billion (up M/M from $17.732 billion, up Y/Y from $9.296 billion); BlackRock, $19.082 billion (up M/M from $24.702 billion in net outflows, up Y/Y from $23.307 billion in net outflows); Goldman Sachs, $17.393 billion (up M/M from $17.008 billion in net outflows, down Y/Y from $17.945 billion in net inflows); and SSGA, $16.209 billion (up M/M from $2.159 billion in net outflows, up Y/Y from $14.097 billion in net outflows). Vanguard took the lead last month proportionately, thanks to an estimated $605 million per fund in net money fund inflows in November 2023. Other big inflows winners included: SSGA, $368 million per fund; and J.P. Morgan, $355 million per fund. Fidelity still leads the 2023 money fund inflows pack so far, thanks to an estimated $224.871 billion in net year-to-date money fund inflows as of November 30. Other big YTD inflows winners included: J.P. Morgan, $213.207 billion; and Schwab, $174.937 billion. On the flip side, Morgan Stanley took the money fund outflows lead last month, thanks to an estimated $5.972 billion in net November 2023 money fund outflows, down M/M from $14.615 billion in October 2023 and down Y/Y from $4.488 billion in November 2022 inflows. Other big November 2023 money fund outflows sufferers included: RBC GAM, $2.632 billion (down M/M from $2.564 billion in net inflows, up Y/Y from $850 million in net outflows); T. Rowe Price, $527 million (up M/M from $166 million, up Y/Y from $75 million); Northern, $283 million (down M/M from $5.4 billion, down Y/Y from $726 million); and MassMutual, $250 million (down M/M from $253 million in net inflows, down Y/Y from $30 million in net inflows). RBC took the money fund outflows lead prorportionately last month, thanks to an estimated $165 million per fund in net November 2023 outflows. Other big outflows sufferers included: Morgan Stanley, $68 million per fund; and Edward Jones, $67 million per fund. Franklin Templeton now leads the 2023 money fund outflows pack so far, thanks to an estimated $11.043 billion in net YTD outflows as of November 30. Other big outflows sufferers included: Morgan Stanley, $7.289 billion; and BNY Mellon (home of Dreyfus), $6.404 billion. As a group, the 72 money fund firms tracked by the M* team (down Y/Y from 74) brought in $185.166 billion in net November 2023 money fund inflows, ending the month with $5.88 trillion in AUM across 2,103 money funds. (November 2023 money fund inflows translated into 3.15 percent of money fund AUM and $88.048 million per fund.) That compares with $31.647 billion in October 2023 outflows (with $5.678 trillion in AUM and 2,102 funds) and with $35.79 billion in November 2022 inflows (with $4.652 trillion in AUM and 2,083 funds). Over the first 11 months of 2023, money fund families brought in $936.322 billion in net inflows. That's equivalent to 15.92 percent of their combined money fund AUM and $445.231 million per fund. Printed from: MFWire.com/story.asp?s=66832 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
