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 |
|
Monday, January 27, 2025 Industry Flows Jump 9X to $723B Industry titans saw their inflows rise as the overall mutual fund and ETF business brought in nearly nine times as much net new money as the year prior, according to the latest data from the folks at a publicly traded investment research firm. This article draws from Morningstar Direct data on December 2024 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like collective trusts and SMAs, are also not included.***) More specifically, this article focuses on the 73 firms (up month-over-month from 72 in November 2024) with at least 100 long-term mutual funds and ETFs each. BlackRock (including iShares) kept the lead last year, thanks to an estimated $284.475 billion in net 2024 inflows, up year-over-year by $205.101 billion from 2023. Other big 2024 inflows winners included: Vanguard, $221.995 billion (up Y/Y by $145.256 billion); Fidelity, $105.563 billion (up Y/Y by $61.295 billion); State Street's SSGA, $77.297 billion (down Y/Y by $114 million); and J.P. Morgan (including Six Circles), $71.866 billion (up by $18.797 billion Y/Y). BlackRock also led the inflows pack for a third quarter in a row, thanks to an estimated $116.925 billion in net inflows in the fourth quarter of 2024. Other big Q4 2024 inflows winners included: Vanguard, $762.809 billion; and SSGA, $53.868 billion. BlackRock also led the inflows pack for a third month in a row, thanks to an estimated $43.59 billion in net December 2024 inflows. Other big inflows winners last month included: Vanguard, $32.521 billion; and SSGA, $16.486 billion. On the flip side, 2024 was a rough yet for Capital Group (home of American Funds), which took the lead in terms of outflows with an estimated $55.115 billion in net 2024 outflows, up by $1.592 billion Y/Y from 2023. Other big outflows sufferers last year included: Franklin Templeton (including Putnam and Royce), $48.836 billion (up by $18.38 billion Y/Y); T. Rowe Price, $44.824 billion (down by $4.426 billion Y/Y); Jackson, $23.39 billion (up by $11.177 billion Y/Y); and TCW, $21.975 billion (up by $10.614 billion). Cap Group also took the outflows lead last quarter, thanks to an estimated $20.586 billion in net Q4 2024 outflows. Other big outflows sufferers included: Franklin, $15.817 billion; and T. Rowe, $11.71 billion. And Cap Group also took the outflows lead last month, thanks to an estimated $10.059 billion in net December 2024 outflows. Other big outflows sufferers last month included; Franklin $4.549 billion; and T. Rowe, $4.316 billion. As a group, the 73 largest fund firms brought in $92.756 billion in December 2024 inflows, accounting for 96 percent of overall industry inflows but down M/M by $17.441 billion. As of December 31, 2024, large fund firms (9.1 percent of industry firms) had $28.421 trillion in AUM (93 percent of industry AUM) across 35,728 funds (82.4 percent of indsutry funds). Large fund firms brought in $275.814 billion in net Q4 2024 inflows. For all of 2024, they brought in $656.379 billion. Across the whole industry, the 806 firms (up by eight M/M and up by 24 Y/Y) tracked by the M* team brought in $96.918 billion in net December 2024 inflows. (That's down by $17.967 billion M/M but up by $14.112 billion Y/Y). As of December 31, 2024, the industry had $30.547 trillion in AUM (down by $879 billion M/M but up by $4.02 trillion Y/Y) across 43,342 long-term mutual funds and ETFs (up by 296 M/M and up by 919 Y/Y). In Q4 2024, the industry brought in $293.69 billion in net inflows, up by $130.032 billion Q/Q). For all of 2024, the industry brought in $723.43 billion in net inflows (up by $640.924 billion Y/Y). ***This caveat is particularly important for large fund firms, many of which are big players in the 401(k) business, where collective investment trusts (CITs) and separately managed accounts (SMAs) are commonly used alternatives to traditional mutual funds. Printed from: MFWire.com/story.asp?s=69449 Copyright 2025, InvestmentWires, Inc. All Rights Reserved |