MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Wednesday, May 22, 2024 Money Fund Outflows Fall By $80B Net money fund flows improved by about $80 billion last month but remained negative, according to the latest data from the folks at a publicly traded investment research firm. This article draws from Morningstar Direct data on money market mutual fund flows in the U.S. in April 2024, across 74 money fund firms. (That's up by one firms month-over-month from March 2024 and up by two firms year-over-year from April 2023.) Goldman Sachs took the money fund inflows lead last month, thanks to an estimated $12.481 billion in net April 2024 inflows, up by $34.735 billion M/M and up by $16.414 billion Y/Y. Other big April 2024 inflows winners included: BlackRock, $5.015 billion (up by $10.7651 billion M/M, up by $6.711 billion Y/Y); Allspring, $3.518 billion (up by $7.005 billion M/M, up by $1.115 billion Y/Y); Morgan Stanley, $3.402 billion (up by $12.629 billion M/M, down by $6.052 billion Y/Y); and J.P. Morgan, $2.909 billion (up by $26.426 billion M/M, up by $2.987 billion Y/Y). Fidelity leads the money fund inflows pack over a longer time horizon, thanks to an estimated $160.111 billion in net trailing 12 months (TTM) money fund inflows as of April 30, 2024. Other big TTM inflows winners included Schwab, $129.681 billion; and J.P. Morgan, $103.729 billion. On the flip side, Fidelity took the money fund outflows lead last month, thanks to an estimated $15.75 billion in net April 2024 outflows, a $27.991-billion net flows drop M/M and up by $2.906 billion Y/Y. Other big April 2024 money fund outflows sufferers included: State Street's SSGA, $6.042 billion (down by $26.521 billion M/M, a $12.354-billion net drop Y/Y); Federated Hermes, $3.993 billion (down by $1 billion M/M, a $6.086-billion net drop Y/Y); UBS, $3.874 billion (a $5.479-billion net drop M/M, up by $1.23 billion Y/Y); and HSBC, $2.989 billion (down by $3.912 billion M/M, up by $1.859 billion Y/Y). Goldman led the money fund outflows pack with $65.981 billion in TTM outflows as of April 30, 2024. Other big outflows sufferers included: Morgan Stanley, $26.231 billion; and Invesco, $21.912 billion. As a group, money funds suffered $11.611 billion in net April 2024 outflows, equivalent to $5.472 million in net outflows for each of the 2,122 money funds tracked by the M* team and 0.19 percent of the $6.01 trillion in AUM. (That compares with $91.403 billion in net outflows, $6.004 trillion in AUM, and 2,121 funds in March 2024, and with $7.795 billion in net inflows, $5.275 trillion in AUM, and 2,086 funds in April 2023.) For the TTM ending April 30, 2024, money funds brought in $542.957 billion in net inflows. Printed from: MFWire.com/story.asp?s=67453 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |