The asset management arm of a money center back led the active inflows pack yet again last month, even as the industry's active outflows overall fell by nearly 74 percent, according to the latest data from the folks at a publicly traded investment research company.

This article draws from Morningstar Direct data on January 2025 open-end mutual fund and ETF flows, excluding money market funds and funds of funds. (The data also excludes other asset management products, like CITs and SMAs.***) More specifically, this article focuses on the 756 firms (down by four month-over-month from December 2024 but up by 38 year-over-year from January 2025) that offer actively managed long-term mutual funds or ETFs.

J.P. Morgan (including Six Circles) led the way for a ninth month running, thanks to an estimated $6.668 billion in net January 2025 active inflows, down by $294 million M/M from December 2024 and down by $249 million Y/Y from January 2024. Other big January 2025 active inflows winners included: Allianz's Pimco, $3.07 billion (up by $1.749 billion M/M, up by $405 million Y/Y); Janus Henderson, $2.822 billion (up by $1.342 billion M/M, and a $3.008-billion net flows improvement Y/Y); BlackRock (including iShares), $2.658 billion (a $3.015-billion net flows improvement M/M but down by $2.724 billion Y/Y); and DFA, $1.883 billion (up by $672 million M/M, down by $205 million Y/Y).

On the flip side, Vanguard took the active outflows lead last month, thanks to an estimated $7.045 billion in net January 2025 active outflows, down by $196 million M/M from December 2024 but up by $2.988 billion Y/Y from January 2024. Other big January 2025 active outflows sufferers included: Capital Group (home of American Funds), $6.491 billion (down by $3.568 billion M/M, up by $2.424 billion Y/Y); MassMutual, $5.697 billion (up by $5.492 billion M/M, up by $5.545 billion Y/Y); T. Rowe Price, $5.054 billion (up by $786 million M/M, up by $1.141 billion Y/Y); and Franklin Templeton (including Putnam and Royce), $2.978 billion (down by $1.822 billion M/M, up by $882 million Y/Y).

Overall, active funds suffered a combined $8.046 billion in net outflows in January 2025, down by $22.733 billion M/M from December 2024 but up by $5.608 billion Y/Y from January 2024. 49.5 percent (374) of active fund families brought in net active inflows in January 2025, up M/M from 44.5 percent and up Y/Y from 44 percent.

***This caveat is particularly important for the largest 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