U.S. Asset Managers: June Monthly Performance and Flow Note: A Steady Month of Positive Net Sales Across The Industry

Research evidence excerpt

U.S. Asset Managers: June Monthly Performance and Flow Note: A Steady Month of Positive Net Sales Across The Industry

J P M O R G A N North America Equity Research

13 July 2026

U.S. Asset Managers

June Monthly Performance and Flow Note: A Steady

Month of Positive Net Sales Across The Industry

The mutual fund industry delivered a steady month of net inflows in June with all Brokers, Asset Managers &

three asset classes generating positive net sales. Overall industry net sales were Exchanges

$157bn in June, after $250bn of inflows in May. Fixed income drove the majority Kenneth B. Worthington, CFA AC

of inflows in June with $80bn of inflows, after $119bn of inflows in May. Money (1-212) 622-6613

market funds experienced net sales of $41bn in June, after $130bn of inflows in kenneth.b.worthington@jpmorgan.com

May. Equity net sales rebounded in June with $36bn of inflows, after flattish flows Michael Cho

in May. Notably, BlackRock led industry inflows in June by a wide margin with (1-212) 622-3619

$76bn of net sales, primarily driven by its equity products which experienced michael.cho@jpmchase.com

$58bn of June net sales. Fidelity and Invesco each delivered ~$15bn of inflows in Madeline Daleiden

(1-212) 622-4911

June behind BlackRock. On balance, T. Rowe sales continue to struggle with more madeline.daleiden@jpmchase.com

net redemptions in June. More broadly, T. Rowe delivered a sizable sub-advisory J.P. Morgan Securities LLC

win in June (Vanguard), but the overall net sales backdrop continues to remain

challenging for T. Rowe.

• June equity net sales rebound after flattish May. Equity funds delivered JPM research: Tracking the Traditionals

inflows of $36bn in June, after $1bn of inflows in May. Passive equity net sales