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Friday, August 26, 2022

Long-Term Flows Fall $22B In a Week

Reported by Neil Anderson, Managing Editor

Inflows into long-term funds took a $22.2-billion hit this week, even as money funds' inflows more than quadrupled, 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 August 24, 2022 (i.e. Wednesday), Jack Fischer, senior research analyst at Refinitiv Lipper, reveals that $3.8 billion net flowed into mutual funds and ETFs in the U.S. this week. That's the industry's second week of inflows in a row, down from $15.9 billion last week. Yet long-term (i.e. non-money market) funds and ETFs suffered $9.3 billion in net outflows this week, down from $12.9 billion in net inflows.

Money market funds led the way as the sole broader category winner, bringing in $13.1 billion in net inflows this week. That's up from $3 billion last week.

On the flip side, taxable bond funds suffered $6.9 billion in net outflows this week, down from $5.7 billion in net inflows last week. Equity funds suffered $1.2 billion in net outflows this week, down from $7.3 billion in net inflows. And tax-exempt bond funds suffered $1.1 billion in net outflows this week, up from $229 million.

Equity ETFs brought in $3.2 billion in net inflows this week. It was their third week of inflows in a row, down from $11.8 billion last week. This week's biggest equity ETF winner, for the third week in a row, was SSGA's SPDR S&P 500 ETF (SPY), with $2.3 billion in net inflows (up from $1.4 billion last week).

Conventional (i.e. non-ETF) equity funds suffered $4.4 billion in net outflows in this week. It's their 29th week of outflows in a row and roughly equal to their outflows last week.

On the fixed income side, ETFs suffered an estimated $4.5 billion in net outflows this week, their first week of net outflows in nine weeks. This week's biggest taxable fixed income ETF winner was BlackRock's iShares: 7-10 Treasury Bond ETF (IEF), with $324 million in net inflows.

Conventional taxable fixed income funds suffered $2.3 million in net outflows this week; it was their 29th week of outflows in 31 weeks, down from $1.5 billion in net inflows last week. And conventional muni bond funds suffered $708 million in net outflows this week, down from $50 million in net inflows. 

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