The world's largest asset manager regained the lead last month among large fund firms, in terms of inflows, even as overall industry inflows climbed, 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 on October 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 72 firms with at least 100 long-term mutual funds and ETFs each.

BlackRock (including iShares) took the lead last month, thanks to an estimated $34.651 billion in net October 2024 inflows, up by $22.437 billion month-over-month from September 2024 and up by $30.321 billion year-over-year from October 2023. Other big October 2024 inflows winners included: Vanguard, $17.277 billion (down by $6 million M/M, but a $25.123-billion improvement Y/Y); State Street's SSGA, $12.373 billion (down by $6.056 billion M/M, up by $11.32 billion Y/Y); J.P. Morgan (including Six Circles), $7.395 billion (up by $398 million M/M, up by $5.248 billion Y/Y); and Schwab, $7.21 billion (up by $2.28 billion M/M, up by $5.5 billion Y/Y).

BlackRock also led the inflows pack for the trailing twelve months ending October 31, 2024, thanks to an estimated $255.921 billion in net inflows. Other big TTM inflows winners included: Vanguard, $188.905 billion; and SSGA, $98.702 billion.

On the flip side, Capital Group (home of American Funds) took the outflows lead last month, thanks to an esetimated $5.257 billion in net October 2024 outflows, up by $4.943 billion M/M from September 2024 but down by $1.659 billion Y/Y from October 2023. Other big October 2024 outflows sufferers included: Franklin Templeton (including Putnam and Royce), $5.148 billion (down by $6.703 billion M/M, up by $1.147 billion Y/Y); T. Rowe Price, $3.747 billion (up by $414 million M/M, up by $1.601 billion Y/Y); Jackson, $2.49 billion (up by $362 million M/M, up by $1.302 billion Y/Y); and TCW, $2.035 billion (down by $51 million M/M, down by $2.25 billion Y/Y).

Cap Group also led the outflows pack for the 12 months ending on October 31, 2024, thanks to an estimated $55.126 billion in net outflows. Other big TTM outflows sufferers included: Franklin, $46.494 billion; and T. Rowe, $45.226 billion.

As a group, the 72 largest fund firms brought in $75.785 billion in October 2024 inflows, which accounted for 92.4 percent of industry inflows; that's up M/M from $44.63 billion and 81.2 percent, and up Y/Y from $46.608 billion in net outflows and 94.6 percent. As of October 31, 2024, large fund firms had $28.054 trillion in AUM across 35,646 funds, accounting for 93.3 percent of industry long-term fund AUM and 82.6 percent long-term funds.

Large firms brought in $563.601 billion in TTM inflows as of October 31, 2024.

Across the whole industry, the 797 firms (up by four M/M and up by 18 Y/Y) tracked by the M* team brought in $82.062 billion in net October 2024 inflows. (That's up by $27.099 billion M/M and a $131.3065-billion Y/Y improvement.) The industry ended October 2024 with $30.084 trillion in AUM (down by $475 billion M/M but up by $6.513 trillion Y/Y) and 43,143 long-term funds (up by 10 M/M and up by 730 Y/Y).

As of October 31, 2024, the industry brought in $598.61 billion in TTM net inflows.

***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.

Editor's Note: This is the first month where MFWire's fund flows coverage looks at all fund firms with 100 or more funds each. (Our prior coverage split these firms into two groups.) 

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