Investors smiled on money funds again this week in a big way, but long-term funds' fortunes soured, according to the latest data from the Lipper team at Refinitiv.

Tom Roseen Refinitiv Lipper Head of Research Services

In the U.S. Weekly FundFlows Insight report for the week ending June 8, 2022 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, and Jack Fischer, senior research analyst, reveal that $19.2 billion net flowed into mutual funds and ETFs in the U.S. this week. That's the industry's second week of inflows in the last three weeks, up from $3.6 billion in net outflows last week. Yet long-term funds and ETFs suffered $5.1 billion in net outflows this week, down from $8.9 billion in net inflows.

Money market funds brought in $24.3 billion in net inflows this week. That's up from $12.4 billion in net outflows last week.

On the flip side, all three major long-term fund categories suffered outflows this week. Taxable bond funds suffered $2.8 billion in net outflows this wee (down from $262 million in net inflows), tax-exempt bond funds suffered $2.1 billion in net outflows this week (down from $1.2 billion in net inflows), and equity funds suffered $274 million in net outflows this week (down from $7.4 billion in net inflows).

Equity ETFs brought in $4.8 billion in net inflows this week, their sixth week of inflows in a row, down from $11.9 billion last week. The biggest equity ETF winner this week was BlackRock's iShares: Core S&P 500 ETF (IVV) with $7 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $4.8 billion in net outflows this week, their 18th week of outflows in a row. That's up from $4.5 billion last week.

On the fixed income side, ETFs brought in $422 million in net inflows this week, their eighth week of inflows in a row, down from $3.7 billion last week. The biggest taxable fixed income ETF winner this week was BlackRock's iShares: Broad USD High Yield Corporate Bond ETF (USHY) with $711 million in net inflows.

Conventional taxable fixed income funds suffered $3.2 billion in net outflows this week, their 20th week of outflows in a row, down from $3.4 billion last week. And conventional municipal bond funds suffered $1.7 billion in net outflows this week, their 20th week of outflows in 21 weeks, down from $325 million in net inflows. 

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