Money funds drove a broad, 12-figure flows rebound this week, according to the latest data from the LSEG Lipper team, with nearly all mutual fund and ETF types' net flows improving. This week partially reversed two consecutive weeks of $100-billion-plus flows declines for the industry.

Jack Fischer LSEG Lipper Senior Research Analyst

In the U.S. Weekly FundFlows Insight report for the week ending April 24, 2024 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, confims that $5.5 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's first week of inflows in three weeks, a $149-billion net flows improvement over last week. Long-term (i.e. non-money-market) funds suffered $200 million in net outflows this week, down $24.8 billion week-over-week.

Money market funds led the turnaround, thanks to an estimated $5.7 billion in net inflows this week, up $124.2 billion W/W. Other inflows winning categories included: commodities funds, $401 million (up by $617 million W/W); taxable fixed income funds, $305 million (up by $3.505 billion W/W); and municipal bond funds, $200 million (up by $1.7 billion W/W).

On the flip side, alternatives funds took the outflows lead this week, thanks to $630 million in net outflows, a $747-million net flows drop W/W. Other outflows suffering categories this week included: mixed assets funds, $381 million (a $330-million W/W drop in net outflows); and equity funds, $106 million (a $19.4-billion W/W drop in net outflows).

Equity ETFs brought in $5.8 billion in net inflows this week. It was their eighth week of inflows in ten weeks and a $19.2-billion net flows improvement W/W.

This week's biggest equity ETF winner was the Invesco QQQ Trust Series 1 (QQQ). The fund brought in $1.2 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $5.9 billion in net outflows this week. It was their 115th week of outflows in a row, yet it was a $200-million net flows improvement W/W.

Taxable fixed income ETFs brought in $2.5 billion in net inflows this week. It was their fourth week of inflows in five weeks and a $2.67-billion net flows jump W/W.

This week's biggest taxable fixed income ETF winner, for a third consecutive week, was BlackRock's iShares Core US Aggregate Bond ETF (AGG). The fund brought in $496 million in net inflows, down by $290 million W/W.

Spot bitcoin ETPs (which the LSEG Lipper team categorizes as "alternative currency strategies ETFs," under the broad "taxable fixed income ETFs" label) brought in $28 million in net inflows this week. Spot bitcoin ETPs as a group have netted positive inflows every week (that's 16 consecutive weeks now) since they debuted earlier this year, though this week their second smallest inflows week to date, up by $10 million W/W.

Of the various spot bitcoin ETPs, only one, the Grayscale Bitcoin Trust (GBTC), suffered net outflows this week. $376 million flowed out of the fund this week, a $102-million W/W improvement.

Conventional taxable fixed income funds suffered $2.2 billion in net outflows this week. It was their third week of outflows in a row, and it was also an $800-million net flows improvement W/W.

Muni bond ETFs brought in $588 million in net inflows this week. It was their second week of inflows in three weeks and a $1.403-billion net flows improvement W/W.

Conventional muni bond funds suffered $387 million in net outflows this week. It was their fourth week of outflows in five weeks, yet outflows shrunk by $272 million W/W. 

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