Industry inflows fell by $8.8 billion this week, thanks to a drop a in money fund inflows and a rise in equity fund outflows, according to the latest data from the LSEG Lipper team.

Tom Roseen LSEG Lipper Head of Research Services

In the U.S. Weekly FundFlows Insight Report for the week ending May 17, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper (fka Refinitiv Lipper), reveals that $4.6 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's fourth week of inflows in a row, down from $13.4 billion last week. Long-term funds (i.e. non-money market funds) suffered $5.8 billion in net outflows this week, up from $3 billion.

Money market funds dominated flows again this week, bringing in $10.4 billion in net inflows, down from $16.4 billion last week. And taxable bond funds brought in $1.3 billion in net inflows this week, up from $726 million.

On the flip side, equity funds suffered $7 billion in net outflows this week, up from $3.7 billion last week. And tax-exempt bond fund suffered $187 million in net outflows this week, up from $102 million.

Equity ETFs suffered $3.4 billion in net outflows this week. It was their second week of outflows in three weeks, down from $2.6 billion in net outflows last week.

Domestic equity ETFs suffered $3.6 billion in net outflows this week, their second week of outflows in three weeks. Yet non-domestic equity ETFs brought in $273 million in net inflows this week, their second week of inflows in a row.

This week's biggest equity ETF winner, for the second week in a row, was SSGA's SPDR S&P 500 ETF (SPY). The fund brought in $2.5 billion in net inflows this week, down from $4.4 billion last week.

Conventional (i.e. non-ETF) equity funds suffered $3.7 billion in net outflows this week. It was their 67th week of outflows in a row, down from $6.2 billion last week.

Conventional domestic equity funds suffered $3.5 billion in net outflows this week, their 20th week of outflows in a row. And conventional non-domestic equity funds suffered $188 million in net outflows this week, their 13th week of outflows in a row.

Taxable fixed income ETFs brought in $2.4 billion in net inflows this week. It was their second week of inflows in a row.

This week's biggest taxable bond ETF winner was BlackRock's iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). The fund brought in $1.1 billion in net inflows.

Municipal bond ETFs suffered $115 million in net outflows this week. It was their second week of outflows in three weeks, down from $148 million in net inflows last week.

This week's biggest muni bond ETF winner was the JPMorgan Ultra-Short Municipal Income ETF (JMST). The fund brought in $88 million in net inflows this week.

Conventional taxable bond funds suffered $1.1 billion in net outflows this week. It was their 13th week of outflows in a row, down from $1.7 billion last week.

Conventional muni bond funds suffered $72 million in net outflows this week. It was their 13th week of outflows in a row, down from $249 million last week. 

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