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

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

Rating:As Inflows Sextuple to $262B, Fido Leads Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, October 30, 2024

As Inflows Sextuple to $262B, Fido Leads

Reported by Neil Anderson, Managing Editor

The Boston Behemoth's money market funds took the inflows lead last quarter, and the whole money fund industry's inflows increased more than six-fold, according to the latest data from the folks at a publicly traded investment research firm.

Abigail Pierrepont "Abby" Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO
This article draws from Morningstar Direct data on money market mutual fund flows in the U.S. in September 2024, across 74 money fund firms. (That's down by one firm month-over-month from August 2024 but level quarter-over-quarter with June 2024 and up by two year-over-year from September 2023.)

Fidelity pulled ahead last quarter, thanks to an estimated $80.353 billion in net money fund inflows in the third quarter of 2024, an $89.135-billion net flows improvement Q/Q from Q2 2024 and up $41.775 billion Y/Y from Q3 2023. Other big Q3 2024 money fund inflows winners included: BlackRock, $57.586 billion (up by $46.353 billion Q/Q, up by $54.436 billion Y/Y); State Street's SSGA, $46.017 billion (up by $52.782 billon Q/Q and up by $10.578 billion Y/Y); J.P. Morgan, $23.558 billion (up by $11.835 billion Q/Q , down by $4.709 billion Y/Y); and Schwab, $22.356 billion (up by $10.191 billion Q/Q, down by $16.36 billion Y/Y).

SSGA took the money fund inflows lead last month, thanks to an estimated $44.832 billion in net September 2024 inflows. Other big inflows winners included: Fidelity, $34.352 billion; and BlackRock, $17.207 billion.

On the flip side, Invesco took the money fund outflows lead last quarter, thanks to an estimated $14.903 billion in net Q3 2024 outflows, a $20.152-billion net flows drop Q/Q from Q2 2024 but down by $6.592 billion Y/Y from Q3 2023. Other big Q3 2024 money fund outflows sufferers included: DWS, $4.68 billion (up by $1.547 billion Q/Q, an $8.088-billion net flows drop Y/Y); Federated Hermes, $4.609 billion (up by $2.958 billion Q/Q, a $20.284-billion net flows drop Y/Y); SEI, $1.899 billion (up by $1.793 billion Q/Q, a $2.927-billion net flows drop Y/Y); and New York Life, $88 million (down by $8 million Q/Q, down by $7 million Y/Y).

Yet Allspring took the money fund outflows lead last month, thanks to an estimated $12.135 billion in net September 2024 outflows. Other big outflows sufferers included: DWS, $3.948 billion; and Franklin Templeton, $3.605 billion.

As a group, money funds brought in $139.421 billion in net September 2024 inflows (up by $51.421 billion M/M, up by $147.835 billion Q/Q, and up by $78.58 billion Y/Y). As of September 30, 2024, the money fund industry held $6.425 trillion in AUM (up by $153 billion M/M, up by $325 billion Q/Q, and up by $733 billion Y/Y) across 2,140 funds (down by 2 M/M, up by 14 Q/Q, up by 41 Y/Y).

For Q3 2024, money funds brought in $261.744 billion in net inflows. That's up by $219.349 billion Q/Q and up by $77.822 billion Y/Y. 

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

3.0
 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