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Friday, July 29, 2022

Money Funds Dominate With $6B of Inflows

Reported by Neil Anderson, Managing Editor

Industry inflows returned this week, even in long-term funds, according to the latest data from the Lipper team at Refinitiv.

Jack Fischer
Refinitiv Lipper
Senior Research Analyst
In the U.S. Weekly FundFlows Insight report for the week ending July 27, 2022 (i.e. Wednesday), Jack Fischer, senior research analyst at Refinitiv Lipper, reveals that $6.1 billion net flowed into mutual funds and ETFs in the U.S. this week. That's the industry's third week of inflows in four weeks, up from $7.2 billion in net outflows last week. Long-term funds and ETFs brought in $100 million in net inflows this week, up from $1.6 billion in net outflows.

Money market funds were the biggest bright spot this week, with $6 billion in net inflows, up from $5.6 billion last week. Equity funds brought in $372 million in net inflows this week (up from $10.4 billion in net outflows), and tax-exempt bond funds brought in $327 million in net inflows (up from $699 million in net outflows). Yet taxable bond funds suffered $537 million in net outflows this week, down from $1.6 billion.

Equity ETFs brought in $5.5 billion in net inflows this week, up from $2.7 billion in net outflows last week. The biggest equity ETF winner this week was SSGA's SPDR S&P 500 ETF (SPY) with $3.8 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $5.2 billion in net outflows this week. That's their 25th week of outflows in a row, down from $7.7 billion last week.

On the fixed income side, fixed income ETFs brought in $3.2 billion in net inflows this week, their 13th week of inflows in 15 weeks. The biggest taxable fixed income ETF winner this week was BlackRock's iShares: U.S. Treasury Bond ETF (GOVT) with $1.5 billion in net inflows.

Conventional taxable fixed income funds suffered $3.8 billion in net outflows this week. It was their 27th week of outflows in a row, down from $6.3 billion last week. And conventional municipal bond funds suffered $472 million in net outflows this week. It was their 27th week of outflows in 30 weeks, down from $731 million last week. 

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