MutualFundWire.com: Long-Term Outflows Fall By $20B

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Friday, October 7, 2022

Long-Term Outflows Fall By $20B

Long-term fund flows improved by nearly $20 billion this week, even as money market fund flows worsened by nearly $32 billion, according to the latest data from LSEG's Refinitiv Lipper team.

Tom Roseen
Refinitiv Lipper
Head of Research Services

In the U.S. Weekly FundFlows Insight report for the week ending October 5, 2022 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $35.4 billion net flowed out of mutual funds and ETFs in the U.S. this week. That's the industry's second week of outflows in a row, up from $23.2 billion last week. Long-term (i.e. non-money market) funds and ETFs suffered $10.7 billion in net outflows this week, down from $30.4 billion.

Money market funds dominated the overall flows picture this week, thanks to $24.7 billion in net outflows, down from $7.2 billion in net inflows last week. Equity funds suffered $4.5 billion in net outflows this week (down from $11.8 billion last week), taxable bond funds suffered $4.1 billion in net outflows this week (down from $14.9 billion), and tax-exempt bond funds suffered $2.1 billion in net outflows this week (down from $3.6 billion).

Equity ETFs brought in $6.2 billion in net inflows this week. It was their second week of inflows in three weeks, down from $1 billion in net outflows last week.

Domestic equity ETFs brought in $4 billion in net inflows this week (also their second week of inflows in three weeks). And nondomestic equity ETFs brought in $2.2 billion in net inflows (their second week of inflows in a row).

This week's biggest equity ETF winner was SSGA's S&P 500 ETF (SPY), with $1.6 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $10.6 billion in net outflows this week. It was their 35th week of outflows in a row, down from $10.7 billion last week.

Conventional domestic equity funds suffered $6.8 billion in net outflows this week (also their 35th week of outflows in a row). And conventional nondomestic equity funds suffered $3.9 billion in net outflows this week (their 26th week of outflows in a row).

Taxable fixed income ETFs brought in $7.7 billion in net inflows this week. It was their first week of inflows in three weeks and their largest weekly inflows since last December. This week's biggest taxable fixed income ETF winner was BlackRock's iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD), with $3 billion in net inflows.

Municipal bond ETFs brought in $1.2 billion in net inflows this week. It was their first week of inflows in nine weeks, down from $296 million in net outflows last week.

Conventional taxable fixed income funds suffered $11.8 billion in net outflows this week. It was their seventh week of outflows in a row, down from $12.1 billion last week.

Conventional muni bond funds suffered $3.3 billion in net outflows this week, level with last week. And, Roseen notes, conventional muni bond funds have suffered $107.98 billion in net outflows year-to-date, still the largest annual outflows in the category since the Lipper folks started their weekly fund flows calculations back in 1992.

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