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 |
|
Wednesday, March 27, 2024 Schwab Pulls Ahead With $10.4B A publicly traded brokerage took the lead last month in a big mutual fund niche, though the group's inflows shrunk by $26 billion, according to the latest data from the folks at a publicly traded investment research firm.
Schwab pulled ahead last month, thanks to an estimated $10.405 billion in net February 2024 money fund inflows, down month-over-month from $14.071 billion in January 2024 and down Y/Y from $23.534 billion in February 2023. Other big February 2024 money fund inflows winners included: Morgan Stanley, $7.671 billion (up M/M from $13.624 billion in net outflows, up Y/Y from $5.293 billion); SSGA, $7.466 billion (down M/M from $14.595 billion, up Y/Y from $8.775 billion in net outflows); Goldman Sachs, $7.444 billion (up M/M from $11.907 billion in net outflows, up Y/Y from $4.98 billion); and J.P. Morgan, $6.862 billion (down M/M from $9.227 billion, up Y/Y from $1.335 billion in net outflows). Excluding apparent money fund newcomer XD Fund Advisor, it was Ramirez Asset Management that led the way last month by a different measure, thanks to estimated net February 2024 money fund inflows equivalent to 96.3 percent of its money fund AUM. Other big inflows winners included: Resolute's American Beacon, 15.2 percent; and DWS, 12.4 percent. Yet Vanguard took the lead by a third measure, thanks to an estimated $407 million in net February 2024 inflows per money fund. Other big inflows winners included: Schwab, $260 million per fund; and SSGA, $170 million per fund. For the trailing twelve months ended February 29, 2024, Fidelity leads the pack with an estimated $224.838 billion in net money fund inflows. Other big TTM money fund inflows winners included: J.P. Morgan, $198.545 billion; and Schwab, $156.378 billion. On the flip side, U.S. Bank's First American took the outflows lead last month, thanks to an estimated $7.522 billion in net February 2024 money fund outflows, down M/M from $8.276 billion in January 2024 money fund inflows and down Y/Y from $107 million in February 2023 money fund inflows. Other big February 2024 money fund outflows sufferers included: Allspring, $6.838 billion (up M/M from $6.083 billion, down Y/Y from $606 million in net inflows); Northern, $6.76 billion (down M/M from $8.974 billion in net inflows, up Y/Y from $4.511 billion in net outflows); HSBC, $2.653 billion (down M/M from $902 million in net inflows, down M/M from $3.124 billion in net outflows); and Franklin Templeton, $2.074 billion (down M/M from $1.049 billion in net inflows, down Y/Y from $2.126 billion in net outflows). Allianz Life took the outflows lead by a second measure, thanks to estimated net February 2024 money fund outflows equivalent to 19.3 percent of its money fund AUM. Other big outflows sufferers included: New York Life, 15.1 percent; and Davis, 12.5 percent. Yet Northern took the outflows lead by a different meausre, thanks to an estimated $294 million per money fund in net February 2024 outflows. Other big outflows sufferers included: Allspring, $145 million per fund; and First American, $142 million per fund. As of February 29, 2024, Invesco led the TTM money fund outflows pack with $31.13 billion in net outflows. Other big outflows sufferers included: Goldman, $11.844 billion; and Franklin, $7.717 billion. As a group, money funds brought in $45.032 billion in net February 2024 inflows, equivalent to $21.363 million in net inflows for each of the 2,108 funds tracked and 0.73 percent of the money funds' combined $6.133 trillion in AUM, with 44 money fund families netting inflows. That compares with $71.126 billion in net inflows, 2,108 funds, $6.065 trillion in AUM, and 33 families with inflows in January 2024, and with $51.442 billion in net inflows, 2,085 funds, $4.861 trillion in AUM, and 36 families with inflows in February 2023. Printed from: MFWire.com/story.asp?s=67220 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
