Net fund flows fell by nearly $41 billion this week, thanks to a return of money fund outflows and a drops in stock fund inflows, 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 July 12, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $18 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's three week of outflows in four weeks, down from $22.8 billion in net inflows last week. Long-term funds (i.e. non-money market funds) brought in $4.2 billion in net inflows this week, down from $7.2 billion.

Taxable fixed income funds led the way this week with $3.4 billion in net inflows, up from $2 billion last week. And equity funds brought in $1 billion in net inflows this week, down from $6.2 billion.

On the flip side, money market funds suffered $22.2 billion in net outflows this week, down from $15.6 billion in net inflows last week. And tax-exempt fixed income funds suffered $136 million in net outflows this week, down from $856 million.

Equity ETFs brought in $5.1 billion in net inflows this week. It was their third week of inflows in a row, down from $13.3 billion last week.

Domestic equity ETFs brought in $4.1 billion in net this inflows this week, their third week of inflows in a row. And non-domestic equity ETFs brought in $1 billion in net inflows this week, their second week of inflows in a row.

This week's biggest equity ETF winner was the Invesco QQQ Trust 1 (QQQ). The fund brought in $2.2 billion in net inflows this week.

Conventional (i.e. non-ETF) equity funds suffered $4.1 billion in net outflows this week. It was their 75th week of outflows in a row, down from $7.1 billion last week.

Conventional domestic equity funds suffered $3.7 billion in net outflows this week, their 28th week of outflows in a row. And conventional non-domestic equity funds suffered $421 million in net outflows this week, their 21st week of outflows in a row.

Taxable fixed income funds brought in $3.2 billion in net inflows this week. It was their second week of inflows in a row, up from $336 million last week.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares 20+ Treasury Bond ETF (TLT). The fund brought in $1.8 billion in net inflows this week.

Municipal bond ETFs suffered $132 million in net outflows this week. It was their second week of outflows in a row, down from $201 million last week.

This week's biggest muni bond ETF winner was the VanEck Long Muni ETF (MLN). The fund brought in $30 million in net inflows this week.

Conventional taxable fixed income funds brought in $169 million in net inflows this week. It was their second week of inflows in a row, down from $1.6 billion last week.

Conventional muni bond funds suffered $5 million in net outflows this week. It was their third week of outflows in a row, down from $655 million last week. 

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