Equity fund outflows and money market inflows both fell by more than half last week, according to the latest data from LSEG's Refinitiv Lipper team.

In the U.S. Weekly FundFlows Insight report for the week ending April 5, 2023 (i.e. last Wednesday), Jack Fischer, senior research analyst at Refinitiv Lipper, reveals that $24.5 billion net flowed into mutual funds and ETFs in the U.S. last week. It was the industry's sixth week of inflows in a row, down from $39.8 billion one week earlier. Long-term (i.e. non-money market) funds suffered $3.3 billion in net outflows last week, down from $21.7 billion.

Money market funds brought in $27.8 billion in net inflows last week, down from $61.5 billion. And taxable fixed income funds brought in $5.3 billion in net inflows this week, up from $983 million in net outflows.

On the flip side, equity funds suffered $8.5 billion in net outflows last week, down from $20.5 billion. And tax-exempt fixed income funds suffered $92 million in net outflows last week, down from $194 million.

Equity ETFs suffered $2.6 billion in net outflows last week. It was their third week of outflows in four weeks, down from $12.6 billion.

Last week's biggest equity ETF winner was the Invesco QQQ Trust 1 (QQQ), with $1.9 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $5.9 billion in net outflows last week. It was their 61st week of outflows in a row, down from $7.9 billion.

Fixed income ETFs brought in $6.1 billion in net inflows last week. It was their seventh week of inflows in a row.

Last week's biggest taxable fixed income ETF winner, for the second week in a row, was the Schwab Strategy: 5-10 Corporate Bond ETF (SCHI), with $2.7 billion in net inflows (up from $2 billion).

Municipal bond ETFs brought in $305 million in net inflows last week. It was their third week of inflows in 11 weeks, up from $90 million in net outflows.

Conventional taxable fixed income funds suffered $855 million in net outflows last week. It was their seventh week of outflows in a row, down from $4.9 billion.

Conventional muni bond funds suffered $397 million in net outflows last week. It was their seventh week of outflows in a row, up from $104 million. 

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