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

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

Rating:BlackRock Takes the Lead With $4.33B Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 17, 2023

BlackRock Takes the Lead With $4.33B

Reported by Neil Anderson, Managing Editor

The world's largest asset manager took the inflows lead last month among the largest fund firms, according to the latest data from the folks at a publicly traded investment research firm.

Laurence D. "Larry" Fink
BlackRock
Chairman, CEO
This article draws from Morningstar Direct data for October 2023 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 eight firms with at least 1,000 long-term mutual funds and ETFs each.

BlackRock took the lead last month, thanks to an estimated $4.33 billion in net October 2023 inflows, up month-over-month from $3.148 billion in September 2023 but down year-over-year from $26.08 billion in October 2022. The only other October 2023 inflows winners included: J.P. Morgan (including Six Circles), $2.147 billion (down M/M from $3.975 billion, up Y/Y from $267 million); and Invesco, $956 million (down M/M from $1.969 billion, up Y/Y from $3.852 billion in net outflows).

J.P. Morgan still leads the way so far in 2023, thanks to an estimated $49.461 billion in net year-to-date inflows as of October 31, 2023. Other big YTD inflows winners included: Fidelity, $29.984 billion; and BlackRock, $25.885 billion.

On the flip side, last month was tough on Franklin Templeton (including Royce), which took the outflows lead thanks to an estimated $4.001 billion in net October 2023 outflows, up M/M from $2.461 billion, down Y/Y from $4.186 billion). Other big October 2023 outflows sufferers included: Fidelity, $2.964 billion (down M/M from $4.81 billion in net inflows, down Y/Y from $8.26 billion in net outflows); and TIAA's Nuveen, $1.904 billion (up M/M from $1.63 billion, up Y/Y from $505 million).

Franklin still leads the 2023 outflows pack so far among mega firms, thanks to an estimated $22.395 billion in net YTD outflows as of October 31. Other big YTD outflows sufferers included: Ameriprise's Columbia Threadneedle, $9.34 billion; and Nuveen, $8.8 billion.

As a group, the eight largest fund firms suffered $3.633 billion in net October 2023 outflows, ending the month with $7.018 trillion in AUM across 11,691 funds, with three of those firms netting inflows. (That compares with $1.843 billion in net inflows, $7.203 trillion in AUM, and 11,681 funds in September 2023.) Mega firms in October 2023 accounted for 29.8 percent of industry long-term fund AUM, 27.6 percent of funds, and 7.4 percent of industry outflows.

Over the first ten months of 2023, jumbo fund firms brought in $64.129 billion in net inflows. Four of those firms have brought in net 2023 inflows so far.

Across the industry, the 779 firms tracked by the M* team (down M/M from 780 and down Y/Y from 787) suffered an estimated $49.2445 billion in net October 2023 outflows, ending the month with $23.571 trillion in AUM across 42,413 funds. That compares with 12.246 billion in net outflows across $24.155 trillion in AUM and 42,226 funds in September 2023, and with $21.911 billion in net outflows across $22.554 trillion in AUM in October 2022.

***This caveat is particularly important for jumbo 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. 

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
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
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. MFDF webinar - BDC Board Service 101, December 10
  2. WE Boston - Give Back Event, December 10
  3. IMEA Distribution Council webinar - Unlocking Your Competitive Edge: Driving Results Through Net Promoter Excellence, December 10
  4. WE New York - End of Year Celebration, December 11
  5. MFDF webinar - ETF Product Trends: Board Implications, December 11
  6. Nicsa webinar - The Virtues of Corporate Culture, December 11
  7. MFDF webinar - Visually Mapping Board Composition: Skills Matrices in Fund Board Rooms, December 18
  8. IMEA webinar - Driving Equity: The FARE Journey and Its Impact on Financial Services, December 19
  9. MFDF webinar - 2024 Fair Valuation Pricing Survey: Building and Strengthening the Valuation Operating Model, January 7, 2025
  10. MFDF webinar - 15(c) White Paper Webinar Series: Part 2 – Board Processes, January 9, 2025
  11. MFDF webinar - AI and Fund Compliance, January 21, 2025
  12. MFDF In Focus - In Focus: Small Boards' Use of Skills Matrices, January 22, 2025
  13. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  14. FSI OneVoice 2025, January 27 - 29, 2025
  15. 2025 ICI Innovate, February 3 - 5, 2025
  16. MFDF Director Discussion Series - Open Forum, February 10, 2025
  17. MFDF Director Discussion Series - Open Forum, February 11, 2025
  18. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025
  19. MFDF Director Discussion Series - Open Forum, April 2, 2025
  20. Envestnet Elevate 2025, April 9 - 10, 2025
  21. MFDF Director Discussion Series - Open Forum, April 15, 2025
  22. The 36th Sub-Advised Funds Forum, April 29 - 30, 2025
  23. Morningstar Investment Conference 2025, June 25 - 26, 2025
  24. MFDF Director Discussion Series - Open Forum, July 9, 2025




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use