MutualFundWire.com: Non-Equity Fund Flows Jump $35B
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Friday, December 9, 2022

Non-Equity Fund Flows Jump $35B


Net flows for non-equity mutual funds and ETFs improved by nearly $35 billion this week, even as equity fund outflows nearly tripled, 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 December 7, 2022 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $13.8 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's third week of inflows in four weeks, up from $4.7 billion in net outflows last week. Yet long-term (i.e. non-money market) funds suffered $25.1 billion in net outflows this week, up from $20.2 billion.

Money market funds are again the big bright spot, thanks to an estimated $38.9 billion in net inflows this week, up from $15.4 billion last week. And tax-exempt fixed income funds brought in $47 million in net inflows this week, up from $1.4 billion in net outflows.

On the flip side, equity funds suffered $24.9 billion in net outflows this week, their seventh largest weekly outflows on record and up from $8.8 billion last week. And taxable fixed income funds suffered $292 million in net outflows this week, down from $10 billion.

Equity ETFs suffered $9.2 billion in net outflows this week. It was their second week of outflows in a row and their largest since April, up from $106 million last week.

Domestic equity ETFs suffered $8.3 billion in net outflows this week, also their 2nd week of outflows in a row. And non-domestic equity ETFs suffered $904 million in net outflows, their first week of outflows in 11 weeks.

This week's biggest equity ETF winner, for the second week in a row, was BlackRock's iShares Core S&P 500 ETF (IVV), with $1.3 billion in net inflows. That's up from $860 million last week.

Conventional (i.e. non-ETF) equity funds suffered $15.7 billion in net outflows this week. It was their 44th week of net outflows in a row, up from $7.6 billion last week.

Conventional domestic equity funds suffered $9.2 billion in net outflows (also their 44th week of outflows in a row). And conventional non-domestic equity funds suffered $6.5 billion in net outflows (their 35th week of outflows in a row).

Taxable fixed income ETFs brought in $2 billion in net inflows this week. It was their fourth week of inflows in five weeks.

This week's biggest taxable fixed income ETF winner, for the second week in a row, was BlackRock's iShares 20+ Year Treasury Bond ETF (TLT), with $1.4 billion in net inflows. That's up from $821 million last week.

Municipal bond ETFs brought in $952 million in net inflows this week. It was their seventh week of inflows in a row, up from $746 million last week.

This week's biggest muni bond ETF winner was BlackRock's iShares National Muni Bond ETF (MUB), with $330 million in net inflows.

Conventional taxable fixed income funds suffered $2.3 billion in net outflows this week. It was their 16th week of outflows in a row, down from $8.3 billion last week.

Conventional muni bond funds suffered $905 million in net outflows this week. It was also their 16th week of outflows in a row, down from $2.1 billion last week. Roseen notes that conventional muni bond funds have suffered $140.2 billion in net year-to-date outflows in 2022, their largest net outflows for any full year on record since the Lipper team started trackly weekly flows data back in 1992.


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