Money funds' net flows improved by $7.9 billion this week, even as long-term funds' flows worsened by $18.582 billion, 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 February 21, 2024 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $11.6 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, up week-over-week from $918 million. Long-term (i.e. non-money-market) funds suffered $2 billion in net outflows this week, down from $16.582 billion in net inflows last week.

Fixed income funds led the pack with $2.6 billion in net inflows this week. And alternatives funds brought in $59 million in net inflows, down W/W from $502 million.

On the flip side, money market funds suffered $9.6 billion in net outflows this week, down W/W from $17.5 billion. Equity funds suffered $3.5 billion in net outflows (down W/W from $8 billion in net inflows), mixed-assets funds suffered $685 million in net outflows (up W/W from $138 million), and commodities funds suffered $501 million in net outflows (down W/W from $645 million).

Equity ETFs suffered $1.5 billion in net outflows this week. It was their second week of outflows in three weeks, down W/W from $10.9 billion in net inflows.

Domestic equity ETFs suffered $2.7 billion in net outflows this week, their second week of outflows in three weeks. Yet non-domestic equity ETFs brought in $1.2 billion in net inflows, their ninth week of inflows in a row.

This week's biggest equity ETF was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $2.3 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $2 billion in net outflows this week. It was their 106th consecutive week of outflows, down W/W from $2.8 billion.

Conventional domestic equity funds suffered $1.5 billion in net outflows this week, their 107th week of outflows in a row. And conventional non-domestic equity funds suffered $567 million in net outflows, their 50th consecutive week of outflows.

Alts ETFs brought in $368 million in net inflows this week. Yet conventional alts funds suffered $309 million in net outflows.

Mixed-assets ETFs brought in $20 million in net inflows this week. Yet conventional mixed-assets funds suffered $705 million in net outflows.

Commodity ETFs suffered $451 million in net outflows this week. And conventional commodities funds suffered $50 million in net outflows.

Taxable fixed income ETFs brought in $476 million in net inflows this week. It was their ninth week of inflows in a row, down W/W from $7.2 billion.

This week's biggest taxable fixed income ETF winner, for the second consecutive week, was BlackRock's iShares Bitcoin Trust (IBIT). (The LSEG Lipper team specifically categorizes this new spot bitcoin ETP, and perhaps others like it, with "alternative currency strategies ETFs.") The fund brought in $899 million in net inflows, down W/W from $1.4 billion.

Conventional taxable fixed income funds brought in $2.1 billion in net inflows this week. It was their eighth week of inflows in a row, up W/W from $1.7 billion.

Municipal bond ETFs brought in $102.5 million in net inflows this week. It was their first week of inflows in three weeks, up W/W from $471 million in net outflows.

This week's biggest muni bond ETF winner was SSGA's SPDR Nuveen Bloomberg Municipal Bond ETF (TFI). The fund brought in $47 million in net inflows.

Conventional muni bond funds suffered $107 million in net outflows in net outflows this week. It was their first week of outflows in eight weeks, down W/W from $329 million in net inflows. 

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