After a two-month break, money fund inflows are back, 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 money market mutual fund flows in the U.S. in May 2024, across 74 money fund firms. (That's up by two year-over-year from May 2023.)

BlackRock took the money fund inflows lead last month, thanks to an estimated $11.132 billion in net May 2024 inflows, up month-over-month by $6.117 from April 2024 but down Y/Y by $4.186 billion from May 2023. Other big May 2024 inflows winners included: Schwab, $9.933 billion (up M/M by $12.015 billion but down Y/Y by $5.326 billion); Fidelity, $9.82 billion (up M/M by $25.57 billion, down Y/Y by $26.33 billion); J.P. Morgan, $9.698 billion (up M/M by $6.789 billion, down Y/Y by $43.908 billion); and Goldman Sachs, $8.196 billion (down M/M by $4.645 billion, up Y/Y by $4.795 billion).

Fidelity still leads the money fund inflows pack over a longer time horizon, thanks to an estimated $133.788 billion in net trailing 12 months money fund inflows as of May 31, 2024. Other big TTM inflows winners included: Schwab, $124.355 billion; and Vanguard, $64.632 billion.

On the flip side, DWS took the money fund outflows lead last month, thanks to an estimated $4.418 billion in net May 2024 outflows, up M/M by $2.859 billion from April 2024 and up Y/Y by $3.153 billion from May 2023. Other big May 2024 money fund outflows sufferers included: HSBC, $3.275 billion (up M/M by $286 million, a $7.498-billion net flows drop Y/Y); BNY Mellon's Dreyfus, $2.336 billion (a $2.509-billion net flows drop M/M, down Y/Y by $40 million); Edward Jones, $479 million (up M/M by $93 million, up Y/Y by $283 million); and SEI, $301 million (down M/M by $242 million, and a $545-million net flows drop Y/Y).

Goldman led the money fund outflows pack with $61.186 billion in TTM outflows as of May 31, 2024. Other big outflows sufferers included: Invesco, $24.592 billion; and Morgan Stanley, $14.003 billion.

As a group, money funds brought in $62.517 billion in net May 2024 inflows, equivalent to 29 million in net inflows for each of the 2,123 money funds tracked by the M* team and 1.03 percent of the $6.087 trillion in money fund AUM. (That compares with $11.611 billion in net outflows, 2,122 funds, and $6.01 trillion in AUM in April 2024, and with $153.13 bilion in net inflows, 2,087 funds, and $5.429 trillion in AUM in May 2023.)

For the TTM ending May 31, 2024, money funds brought in $452.367 billion in net inflows. 

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