MutualFundWire.com: $28B Flows In, But ...

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Friday, April 29, 2022

$28B Flows In, But ...

Industry inflows returned this week, almost exclusively thanks to money funds, according to the latest data from the Lipper team at Refinitiv. Yet long-term (i.e. non-money market) funds' outflows lessened, too.

Tom Roseen
Refinitiv Lipper
Head of Research Services

In the U.S. Weekly FundFlows Insight report for the week ending April 27, 2022 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $28.4 billion net flowed into mutual funds and ETFs in the U.S. this week. That's the industry's first week of inflows in four weeks, up from $85.1 billion in net outflows last week. Long-term funds and ETFs suffered $11.6B in net outflows this week, down from $23.1 billion last week.

Money market funds led the way once again, this time with $40 billion in net inflows, up week-over-week from $62 billion in net outflows. Taxable bond funds brought in $19 million in net inflows this week, up W/W from $4.8 billion in net outflows. On the flip side, equity funds suffered $8.8 billion in net outflows this week (down W/W from $14.7 billion), and tax-exempt bond funds suffered $2.9 billion in net outflows (down W/W from $3.6 billion).

Equity ETFs suffered $1.2 billion in net outflows this week, their third week of outflows in a row, down W/W from $9.7 billion. (The biggest equity ETF winner this week was SSGA's SPDR S&P 500 ETF, i.e. SPY, which brought in $1.5 billion in net inflows). Domestic equity ETFs suffered $468 in net outflows, their third week of net outflows in a row. And nondomestic equity ETFs suffered $733 million in net outflows, their first week of outflows in six weeks.

Conventional (i.e. non-ETF) equity funds suffered $7.6 billion in net outflows this week, their 12th week of outflows in a row, up W/W from $5.1 billion. Conventional domestic equity funds suffered $3.1 billion in net outflows (also their 12th week of outflows in a row), while conventional nondomestic equity funds suffered $4.5 billion in net outflows (their third week of outflows in a row).

On the fixed income side, taxable fixed income ETFs brought in $4.3 billion in inflows this week, their second week of inflows in a row. And Municipal bond ETFs brought in $288 million in net inflows, their seventh week of inflows in the last eight weeks. (The biggest fixed income ETF winner this week was again BlackRock's iShares iBoxx $ Investment Grade Corporate Bond ETF, i.e. LQD, which brought in $1.1 billion in net inflows.)

As for conventional fixed income mutual funds, taxable funds suffered $4.3 billion in net outflows this week, their 14th week of outflows in a row. And muni bond funds suffered $3.2 billion in net outflows, their 16th week of outflows in a row.

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