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, January 30, 2024 These Funds Made a $1.025T 2023 Comeback One big niche in the mutual fund world made a $1.025-trillion comeback last year, according to the latest data from the folks at a publicly traded investment research firm.
Fidelity took the money fund inflows lead last year, thanks to an estimated $250.81 billion in net 2023 money fund inflows, up year-over-year from $51.622 billion in 2022. Other big 2023 money fund inflows winners included: J.P. Morgan, $198.074 billion (up Y/Y from $52.55 billion in net outflows); Schwab, $180.75 billion (up Y/Y from $129.654 billion); Vanguard, $90.012 billion (up Y/Y from $22.949 billion); and SSGA, $58.006 billion (up Y/Y from $1.185 billion). Setting aside 2023 money fund newcomer Ramirez Asset Management, Thrivent took the lead last year by a different measure, thanks to estimated net 2023 money fund inflows equivalent to 43.5 percent of its money fund AUM. Other big inflows winners included: Gabelli, 42.6 percent; and Allianz's Pimco, 39.6 percent. Yet Vanguard took the 2023 money fund inflows lead by a third measure, thanks to an estimated $7.501 billion in net 2023 inflows per money fund. Other big inflows winners included: Schwab, $4.519 billion per fund; and Fidelity, $2.344 billion per fund. Fidelity led the money fund inflows pack last quarter, thanks to an estimated $70.025 billion in net money fund inflows in the fourth quarter of 2023. Other big Q4 2023 inflows winners included: Schwab, $34.822 billion; and J.P. Morgan, $27.848 billion. And Fidelity also took the money fund inflows lead last month, thanks to an estimated $20.79 billion in net December 2023 money fund inflows. Other big inflows winners included: Vanguard, $10.311 billion; and SSGA, $9.924 billion. On the flip side, Invesco took the outflows lead last year, thanks to an estimated $17.623 billion in net 2023 money fund outflows, down Y/Y from $46.11 billion in net 2022 inflows. Other big 2023 money fund outflows sufferers included: Goldman Sachs, $10.646 billion (down Y/Y from $6.921 billion in net inflows); Franklin Templeton, $7.887 billion (up Y/Y from $3.585 billion); BNY Mellon's Dreyfus, $1.739 billion (down Y/Y from $8.127 billion in net inflows); and T. Rowe Price, $1.39 billion (down Y/Y from $3.917 billion in net inflows). Guggenheim's Rydex took the outflows lead last year by a different measure, thanks to estimated net 2023 money fund outflows equivalent to 85.9 percent of its money fund AUM. Other big outflows sufferers included: Davis, 47.7 percent; and Jackson, 20.3 percent. Yet Edward Jones took the 2023 money fund outflows lead by a third measure, thanks to estimated net outflows of $609 million per money fund. Other big outflows sufferers included: Invesco, $180 million per fund; and Jackson, $147 million per fund. Goldman led the outflows pack last quarter, thanks to an estimated $30.992 billion in net Q4 2023 money fund outflows. Other big outflows sufferers included: Morgan Stanley, $12.528 billion; and Invesco, $11.711 billion. Goldman also took the outflows lead last month, thanks to an estimated $31.304 billion in net December 2023 money fund outflows. Other big outflows sufferers included: J.P. Morgan, $15.133 billion; and Invesco, $12.291 billion. As a group, money funds brought in $971.304 billion in net 2023 inflows, reaching $5.977 trillion in AUM and 2,108 funds on December 31, 2023. (That's equivalent to $461 million in net inflows per fund and amounts to inflows of 16.25 percent of AUM. 45 money fund families brought in net 2023 inflows.) That's up from $54.177 billion in net 2022 outflows, and $4.738 trillion in AUM and 2,083 funds on December 31, 2022. In Q4 2023, money funds brought in $189.255 billion in net inflows. That's equivalent to 3.17 percent of money funds' combined AUM and translates into $90 million in net inflows per fund. And in December 2023 alone, money funds brought in $26.811 billion in net inflows. That's equivalent to 0.45 percent of their combined AUM and translates into $13 million in net inflows per fund. Printed from: MFWire.com/story.asp?s=66984 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
