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Friday, July 08, 2022

Long-Term Outflows Fall to $8B

Reported by Neil Anderson, Managing Editor

Industry inflows returned this week, and long-term outflows fell 54 percent in two weeks, 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 July 6, 2022 (i.e. Wednesday), Tom Roseen, head of research at Refinitiv Lipper, reveals that $12.1 billion net flowed into mutual funds and ETFs in the U.S. this week. That's the industry's first week of inflows in four weeks, up from $20.1 billion in net outflows two weeks ago. Long-term funds and ETFs suffered $8.31 billion in net outflows this week, down from $18.2 billion two weeks ago.

Money market funds led the way this week, with $20.41 billion in net inflows, up from $1.9 billion in net outflows two weeks ago. On the flip side, equity funds suffered $7.9 billion in net outflows this week (up from $5.4 billion two weeks ago), tax-exempt bond funds suffered $313 million in net outflows (down from $1.6 billion two weeks ago), and taxable bond funds suffered $111 million in net outflows (down from $11.2 billion two weeks ago).

Equity ETFs suffered $3.5 billion in net outflows this week, their fourth week of outflows in a row, up from $386 million two weeks ago. The biggest equity ETF winner this week was SSGA's Selector Sector: Utilities SPDR ETF (XLU) with $557 million in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $4.4 billion in net outflows this week. It was their 22nd week of outflows in a row, down from $5.1 billion two weeks ago.

On the fixed income side, fixed income ETFs brought in $7.5 billion in net inflows this week, their second week of inflows in a row, up from $1.5 billion in net outflows two weeks ago. The biggest taxable fixed income ETF winner this week was BlackRock's iShares: 7-10 Treasury Bond ETF (IEF) with $2.8 billion in net inflows.

Conventional taxable fixed income funds suffered $7.6 billion in net outflows this week, their 24th week of outflows in a row, down from $9.7 billion two weeks ago. And conventional municipal bond funds suffered $828 million in net outflows this week, their 25th week of outflows in 26 weeks, down from $2.1 billion two weeks ago. 

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