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Friday, September 30, 2022|
Weekly Net Flows Take a $42B Hit
Net industry fund flows worsened by $42.1 billion this week, as the flows picture soured across a host of categories, according to the latest data from LSEG's Refinitiv Lipper team.
Money market funds brougth in $7.2 billion in net inflows this week, down from $30 billion last week. On the flip side, taxable bond funds suffered $14.9 billion in net outflows this week (up from $6.8 billion), equity funds suffered $11.8 billion in net outflows (up from $2.3 billion), and tax-exempt bond funds suffered $3.6 billion in net outflows (up from $2 billion).
Equity ETFs suffered $1 billion in net outflows this week. It was their fourth week of outflows in five weeks, down from $1.1 billion in net outflows last week. This week's biggest equity ETF winner was BlackRock's iShares: Core S&P Total US Market ETF (ITOT), with $1.7 billion in net inflows.
Conventional (i.e. non-ETF) equity funds suffered $10.7 billion in net outflows this week. It was their 34th week of outflows in a row, up from $3.3 billion last week.
Fixed income ETFs suffered $2.8 billion in net outflows this week. It was their second week of outflows in a row, up from $499 million last week. This week's biggest taxable fixed income ETF winner was again SSGA's SPDR Bloomberg 1-3 Months T-Bill ETF (BIL), with $2.3 billion in net inflows (up from $897 million last week).
Municipal bond ETFs suffered $296 million in net outflows this week. It was their eighth week of outflows in a row, up from $9 million last week.
Conventional taxable fixed income funds suffered $12.1 billion in net outflows this week. It was their sixth week of outflows in a row and their largest weekly outflows since April 2020, up from $6.3 billion last week.
Conventional muni bond funds suffered $3.3 billion in net outflows this week. It was their seventh week of outflows in eight weeks, up from $2 billion last week. And, Fischer notes, conventional muni bond funds have still only had five weeks of net inflows so far in 2022.
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