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 |
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Friday, November 29, 2024 Goldman Pulls Ahead With $21B, But Industry Inflows Slow A publicly traded investment bank's money market funds took the inflows lead last month, even as the whole industry's money fund inflows slowed by 31 percent, 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 October 2024, across 73 money fund firms. (That's down by one firm month-over-month from September 2024 but up one year-over-year from October 2023.) Goldman Sachs pulled ahead last month, thanks to an estimated $20.822 billion in net October 2024 money fund inflows, up by $12.437 billion M/M from September 2024 and up by $37.83 billion Y/Y from October 2023. Other big October 2024 money fund inflows winners included: J.P. Morgan, $12.597 billion (down by $134 million M/M, up by $15.049 billion Y/Y); Schwab, $11.228 billion (up by $6.258 billion M/M, down by $5.923 billion Y/Y); U.S. Bank's First American, $9.174 billion (up by $9.566 billion M/M, up by $7.618 billion Y/Y); and Morgan Stanley, $9.094 billion (up by $2.433 billion M/M, up by $23.709 billion Y/Y). As of October 31, 2024, Fidelity led the money fund pack for the trailing twelve months, thanks to an estimated $155.992 billion in net inflows. Other big TTM money fund inflows winners included: Schwab, $97.059 billion; and BlackRock, $87.09 billion. On the flip side, RBC GAM took the outflows lead last month, thanks to an esetimated $2.155 billion in net October 2024 money fund outflows, a $4.068-billion net flows drop M/M from September 2024 and a $4.719-billion net flows drop Y/Y from October 2023. Other big October 2024 money fund outflows sufferers included: Invesco, $1.481 billion (a $6.574-billion net flows drop M/M, down by $791 million Y/Y); Fidelity, $838 million (a $35.19-billion net flows drop M/M, and an $18.57-billion net flows drop Y/Y); Allianz's Pimco, $451 million (a $708-million net flows drop M/M, and a $487-million net flows drop Y/Y); and Wilmington, $355 million (a $1.143-billion net flows drop M/M, up $258 million Y/Y). As of October 31, 2024, Invesco led the money fund TTM outflows pack, thanks to an estimated $22.099 billion in net outflows. Other big outflows sufferers included: HSBC, $4.053 billion; and RBC GAM, $3.153 billion. As a group, money funds brought in $95.924 billion in net October 2024 inflows (down by $43.497 billion M/M, up by $127.571 billion Y/Y). As of October 31, 2024, the money fund industry held $6.531 trillion in AUM (up by $106 billion M/M, up by $853 billion Y/Y) across 2,137 funds (down by 3 M/M, up by 35 Y/Y). For the trailing twelve months ending October 31, 2024, money funds brought in $635.593 billion in net inflows. Printed from: MFWire.com/story.asp?s=68229 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |