The world's largest largest asset manager and ETF shop (by AUM) kept the inflows lead last month, 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 July 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 seven firms with at least 1,000 long-term mutual funds and ETFs each.

BlackRock (including iShares) kept the lead last month for a third consecutive time, bringing in an estimated $33.619 billion in net July 2024 inflows, down by $7.935 billion month-over-month from June 2024 but up by $16.536 billion year-over-year from July 2023. Other big July 2024 inflows winners included: Fidelity, $6.249 billion (down by $1.966 billion M/M, down by $3.294 billion Y/Y); and Invesco, $6.142 billion (up by $1.215 billion M/M, up by $1.593 billion Y/Y).

BlackRock also led the way for the trailing twelve months ending on July 31, 2024, thanks to an estiamted $186.432 billion in net inflows. Other TTM inflows winners included: Fidelity, $85.338 billion; and J.P. Morgan (including Six Circles), $50.742 billion.

On the flip side, Franklin Templeton (including Putnam and Royce) led the outflows pack for a tenth month in a row, thanks to na estimated $1.907 billion in net July 2024 outflows, down by $659 million M/M from Juhe 2024 but up by $361 million Y/Y from July 2023. The only other July 2024 mega outflows sufferer was Ameriprise's Columbia Threadneedle, $872 million (down by $92 million M/M, and a $927-million net flows drop Y/Y).

Franklin also led the TTM outflows pack as of July 31, thanks to an estimated $34.14 billion in net outflows. Other big outflows sufferers included: Morgan Stanley (including Eaton Vance and Calvert), $8.529 billion; and Columbia Threadneedle, $7.834 billion.

As a group, the seven largest fund firms brought in $48.222 billion in July 2024 inflows, ending the month with $8.637 trillion in AUM across 11,388 funds, with five of those firms nett inflows. Mega firms on July 31, 2024 accounted for 29.3 percent of industry long-term fund AUM, 26.4 percent of funds, and 58.1 percent of industry inflows.

As of July 31, jumbo firms brought in $320.221 billion in net TTM inflows, accounting for 92.5 percent of industry inflows.

Across the whole industry, the 795 firms (up by two M/M and up by 16 Y/Y) tracked by the M* team brought in about $82.936 billion in net July 2024 inflows. The industry ended July 2024 with $29.447 trillion in AUM across 43,102 funds. (That's up by $719 billion and by 288 funds M/M, and by $3.697 trillion and 935 funds Y/Y.)

As of July 31, the industry brought in $346.371 billion in net TTM inflows into long-term funds.

***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. 

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