Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Despite Rising Outflows, It's Still Been a Strong Money Fund Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 24, 2020

Despite Rising Outflows, It's Still Been a Strong Money Fund Year

Reported by Neil Anderson, Managing Editor

Money funds' outflows are on the rise again, though 2020 overall still looks good.

Nicolaas "Nico" Marais
Wells Fargo Asset Management
CEO
This article draws from Morningstar Direct data on money market mutual fund flows in the U.S. in August 2020.

Of the 10 money fund families tracked by the M* team, only three brought in net inflows last month. Wells Fargo took the lead with an estimated $9.312 billion in net inflows, equivalent to about 4.3 percent of its money fund AUM, up from $4.992 billion and 2.4 percent in July. The other August money fund inflows winners were: BlackRock, $6.046 billion and 1.4 percent (up from $422 million in net outflows, equivalent to 0.1 percent of AUM); and Federated Hermes, $625 million and 0.2 percent (up from $3.593 billion in net outflows, equivalent to 1 percent of AUM.

Year-to-date, Goldman Sachs tops the money fund inflows list as of August 31, thanks to an estimated $108.338 billion in net inflows. Other big YTD money fund inflows winners included: Fidelity, $106.018 billion; and J.P. Morgan, $93.17 billion.

Proportionately, Wells leads the money fund inflows pack YTD, thanks to estimated net inflows of 39.4 percent. Other big winners YTD included: Morgan Stanley, 30.9 percent; and Goldman, 29.6 percent).

On the flip side, August was a rough month for Goldman's money fund business, which suffered an estimated $50.025 billion in net outflows, down from $12.713 billion in net July inflows. Other big August money fund outflows sufferers included: Charles Schwab, $5.652 billion (down from $9.142 billion); and BNY Mellon's Dreyfus, $4.002 billion (down from $585 million in net inflows).

The same three money fund firms — Goldman, Schwab, and Dreyfus — also led the August outflows pack proportionately, too, thanks to estimated net inflows equivalent to 13.7 percent, 2.9 percent, and 2 percent of their money fund AUM.

Only one money fund family, Schwab, suffered YTD money fund outflows as of the end August: $4.987 billion, equivalent to 2.6 percent of its money fund AUM.

Overall, those ten money fund families suffered an estimated $51.898 billion in net August money fund outflows, equivalent to about 1.44 percent of their combined AUM (up from $41.594 billion and 1.1 percent). That's versus $41.403 billion in net long-term fund inflows.

Yet YTD, as of the end of August, those money fund firms brought in an estimated $661.106 billion in net money fund inflows, equivalent to 18.32 percent of their combined money fund AUM. That's compared to $17.515 billion net long-term fund outflows YTD. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. The 32nd Sub-Advised Funds Forum, Sep 20-21
  2. Crane's Money Fund Symposium, Sep 21-23
  3. Expect Miracles Foundation's 4th Annual Atlantic Coast Classic, September 21
  4. ICI 2021 Virtual Tax and Accounting Conference - Day 1, September 21
  5. MFDF webinar - the Nuts and Bolts of SPACs, September 22
  6. Morningstar Investment Conference, Sep 22-24
  7. Nicsa webinar - Listen, Learn & Lead | Utilizing Beneficial Partnerships, September 22
  8. MFDF Director Discussion Series - Open Forum via Zoom, September 23
  9. MMI Distribution Leadership Forum - Day 2, September 24
  10. Citywire Greenwich Harbor Retreat 2021, Sep 27-28
  11. Inside ETFs, Sep 27-29
  12. MFDF webinar - MPI's 2021 Mid-Year Survey of Investment Firm Profitability, September 28
  13. ICI 2021 Virtual Tax and Accounting Conference - Day 2, September 28
  14. IMEA In-Person Leadership Summit, September 29
  15. ALFI Digi Pulse USA, September 30
  16. ICI 2021 Virtual Tax and Accounting Conference - Day 3, October 5
  17. Nicsa 2021 General Membership Meeting, Oct 6-8
  18. MFDF webinar - BDCs 101: The Board Perspective, October 13
  19. MFDF Director Discussion Series - Open Forum (New York), October 14
  20. Fund Intelligence Mutual Fund Industry and ETF Awards, October 14
  21. 2021 Nicsa GMM - Digital Innovation Summit, October 19
  22. 2021 MMI Annual Conference, Oct 20-28
  23. Tiburon CEO Summit XLI, Nov 1-3
  24. MFDF webinar - ISO Crypto Exposure: What Boards Need to Know, November 9
  25. MFDF Director Discussion Series - Open Forum via Zoom, November 18
  26. MFDF webinar - Fund Industry Claims Trends: An Insurer's Perspective, December 2




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use