Net flows into long-term funds improved by more than $32 billion last week, thanks to big inflows into bond funds (including record-breaking inflows into taxable bond ETFs), according to the latest data from
LSEG's Refinitiv Lipper team.
| Tom Roseen Refinitiv Lipper Head of Research Services | |
In the
U.S. Weekly FundFlows Insight report for the week ending January 11, 2023 (i.e. Wednesday),
Tom Roseen, head of research services at Refinitiv Lipper, reveals that $2.3 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's third week of inflows in a row, down from $37.06 billion
last week. Long-term (i.e. non-money market) funds brought in $11.7 billion in net inflows this week, up from $20.74 billion in net outflows.
Taxable fixed income funds led the way with an estimated $11 billion in net inflows this week; it was their largest weekly inflows since February 2021, up from $2.1 billion in net outflows last week. And tax-exempt fixed income funds brought in $2 billion in net inflows this week; it was their largest weekly inflows since July 2021, up from $2.5 billion in net outflows last week.
On the flip side, money market funds suffered $9.4 billion in net outflows this week, down from $57.8 billion in net inflows last week. And equity funds suffered $1.2 billion in net outflows this week, down from $16.2 billion.
Equity ETFs brought in $2 billion in net inflows this week. It was their second week of inflows in three weeks, up from $7 billion in net outflows last week.
Domestic equity ETFs suffered $1.3 billion in net outflows this week, their second week of outflows in a row. Yet non-domestic equity ETFs brought in $3.3 billion in net inflows, their largest weekly inflows since April 2022.
This week's biggest equity ETF winner was
SSGA's Industrial Select Sector SPDR ETF (XLI), with $1.1 billion in net inflows.
Conventional (i.e. non-ETF) equity funds suffered $3.2 billion in net outflows this week. It was their 49th week of outflows in a row, down from $9.2 billion last week.
Conventional domestic equity funds suffered $1.8 billion in net outflows this week, their second week of outflows in a row. And conventional non-domestic equity funds suffered $1.3 billion in net outflows, their 41st week of outflows in a row.
On the fixed income side, taxable fixed income ETFs brought in $9.8 billion in net inflows this week. It was their third week of inflows in a row and their biggest weekly inflows ever since the Lipper team began tracking their flows back in 2002.
This week's biggest taxable fixed income ETF winner was
BlackRock's iShares iBoxx $ High Yield Corporate Bond ETF (HYG), with $1.6 billion in net inflows.
Municipal bond ETFs brought in $454 million in net inflows this week. It was their third week of inflows in a row, down from $621 million last week.
This week's biggest muni bond ETF winner was the
iShares National Muni Bond ETF (MUB), with $342 million in net inflows.
Conventional taxable fixed income funds brought in $1.2 billion in net inflows this week. It was their first week of inflows in 21 weeks, up from $6.8 billion in net outflows last week.
Conventional muni bond funds brought in $1.5 billion in net inflows this week. It was also their first week of inflows in 21 weeks, up from $3.1 billion in net outflows last week. 
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