A publicly traded, institutional bank's asset management arm took the money fund lead last month, and the money fund business returned to positive flows, according to the latest data from the folks at a publicly traded investment research firm.

This article draws from Morningstar Direct data on money market mutual fund flows in the U.S. in February 2026, across 66 money fund firms. (That's down by 11 firms month-over-month from January 2026 and down by 9 firms year-over-year from February 2025.)

State Street's SSIM pulled ahead last month, thanks to an estimated $12.429 billion in net February 2026 money fund inflows, up by $16.272 billion M/M from January 2026 and up by $11.373 billion Y/Y from February 2025. Other big February 2026 money fund inflows winners included:

Invesco, $11.01 billion (up by $13.459 billion M/M, up by $4.735 billion Y/Y);

Goldman Sachs Asset Management, $8.894 billion (up by $14.641 billion M/M, up by $2.643 billion Y/Y);

BlackRock, $8.685 billion (up by $28.859 billion M/M, down by $4.118 billion Y/Y); and

Federated Hermes, $8.422 billion (up by $14.791 billion M/M, up by $7.384 billion Y/Y).

Fidelity led the way over the last year, thanks to an estimated $108.018 billion in net trailing twelve months money fund inflows as of February 28, 2026. Other big TTM inflows winners included: J.P. Morgan Asset Management, $101.267 billion; and BlackRock, $82.713 billion.

On the flip side, JPMAM took the outflows lead last month, thanks to an estimated $7.506 billion in net February 2026 money fund outflows, a $22.029-billion net flows drop M/M from January 2026 and an $8.267-billion net flows drop Y/Y from February 2025. Other big February 2026 money fund outflows sufferers included:

Allspring, $5.626 billion (a $9.854-billion net flows drop M/M, a $6.845-billion net flows drop Y/Y);

BNY Mellon's Dreyfus, $3.254 billion (up by $3.196 billion M/M, down by $2.658 billion Y/Y);

UBS, $3.198 billion (a $5.14-billion net flows drop M/M, a $3.456-billion net flows drop Y/Y); and

Vanguard, $2.416 billion (down by $5.482 billion M/M, a $12.972-billion net flows drop Y/Y).

DWS led the outflows pack over the last year, thanks to an estimated $3.706 billion in net TTM money fund outflows as of February 28, 2026. Other big outflows sufferers included: Capital Group (home of American Funds), $652 million; and Plan Investment Fund, $598 million.

As of February 28, 2026, the 66 money fund firms tracked by the M* team held:

$7.744 trillion in money fund AUM (up by $17 billion M/M, up by $771 billion Y/Y),

Across 2,067 money funds (down by 92 M/M, down by 81 Y/Y).

As a group, money funds brought in an estimated $46.797 billion in net February 2026 inflows, up by $82.986 billion M/M but down by $32.637 billion Y/Y. (Long-term mutual funds and ETFs, meanwhile, brought in $150.085 billion in net inflows last month.) 51.5 percent (34 firms) of the money fund families brought in net money fund inflows in February.

As of February 28, 2026, money funds brought in $605.304 billion in net TTM inflows. 72.7 percent (48) of firms brought in net money fund inflows in that time frame. 

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