MutualFundWire.com: Equity Funds Are the Sole, $637MM Bright Spot

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Friday, February 3, 2023

Equity Funds Are the Sole, $637MM Bright Spot

As flows turned south this week for the first time in 2023, equity funds were the sole big category brightspot, according to the latest data from LSEG's Refinitiv Lipper team.

Jack Fischer
Refinitiv Lipper
Senior Research Analyst

In the U.S. Weekly FundFlows Insight report for the week ending February 1, 2023 (i.e. Wednesday), Jack Fischer, senior research analyst at Refinitiv Lipper, reveals that $10.7 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's first week of outflows in six weeks, down from $21.9 billion in net inflows last week. Long-term (i.e. non-money market) funds suffered $2.4 billion in net outflows this week, down from $6.5 billion in net inflows.

Equity funds brought in $637 million in net inflows this week. That's down from $555 million in net outflows last week.

On the flip side, money market funds suffered $8.3 billion in net outflows this week, down frmo $15.4 billion in net inflows last week. Taxable bond funds suffered $2.7 billion in net outflows this week (down from $5.7 billion in net inflows), and tax-exempt bond funds suffered $362 million in net outflows (down from $1.3 billion in net inflows).

Equity ETFs brought in $4.6 billion in net inflows this week. It was their second week of inflows in a row, up from $3.4 billion last week.

This week's biggest equity ETF winner, for the second week in a row, was the JPMorgan BetaBuilders Europe ETF (BBEU), with $908 million in net inflows (down from $2.7 billion last week).

Conventional (i.e. non-ETF) equity funds suffered $3.9 billion in net outflows this week. It was their 52nd week of outflows in a row, up from $3.4 billion last week. (In other words, conventional equity funds have suffered weekly striaght inflows for the last year.)

Meanwhile, fixed income ETFs suffered $4.5 billion in net outflows this week. It was their first week of outflows in six weeks.

This week's biggests taxable FI ETF winner was the ProShares UltraPro Short QQQ ETF (SQQQ) with $454 million in net inflows.

Municipal bond ETFs suffered $714 million in net outflows this week. It was their second week of outflows in a row, up from $611 million last week.

Conventional taxable fixed income funds brought in $1.8 billion in net inflows this week. It was their fourth week of inflows in a row, up from $736 million last week.

Conventional muni bond funds brought in $352 million in net inflows this week. It was their fourth week of inflows in a row, down from $1.9 billion last week.

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