Net industry flows fell by more than $30 billion this week, as money market inflows fell and long-term outflows increased, according to the latest data from LSEG's Refinitiv Lipper team.

Jack Fischer Refinitiv Lipper Senior Research Analyst

In the U.S. Weekly FundFlows Insight report for the week ending December 14, 2022 (i.e. Wednesday), Jack Fischer, senior research analyst at Refinitiv Lipper, reveals that $16.4 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's second week of outflows in three weeks, down from $13.8 billion in net inflows last week. Long-term (i.e. non-money market) funds suffered $35.3 billion in net outflows this week, up from $25.1 billion.

Money market funds are again the biggest bright spot, thanks to an estimated $18.9 billion in net inflows this week, down from $38.9 billion last week. On the flip side, equity funds suffered $29.3 billion in net outflows this week (up from $24.9 billion last week), taxable fixed income funds suffered $5.7 billion in net outflows this week (up from $292 million), and tax-exempt fixed income funds suffered $1.2 billion in net outflows (down from $47 million in net inflows).

Equity ETFs brought in $14.4 billion in net inflows this week. It was their first week of inflows in three weeks, up from $9.2 billion in net outflows last week.

This week's biggest equity ETF winner was SSGA's S&P 500 ETF (SPY), with $11.9 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $22 billion in net outflows this week. It was their 45th week of outflows in a row and their fourth largest weekly outflows on record, up from $15.7 billion last week.

Fixed income ETFs brought in $4.1 billion in net inflows this week. It was their fifth week of inflows in six weeks.

This week's biggest taxable fixed income ETF winner was the JPMorgan Ultra-Short Income ETF (JPST), with $833 million in net inflows.

Municipal bond ETFs brought in $758 million in net inflows this week. It was their eight week of inflows in a row, down from $952 million last week.

Conventional taxable fixed income funds suffered $8.3 billion in net outflows this week. It was their 17th week of outflows in a row, up from $2.3 billion last week.

Conventional muni bond funds suffered $2 billion in net outflows this week. It was also their 17th week of outflows in a row, up from $905 million last week. Fischer notes that conventional muni bond funds have only brought in five weeks of net inflows year-to-date. 

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