MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Friday, February 24, 2023 Net Flows Worsen By $7.7B Net flows worsened by $7.7 billion this week, with worse flows hitting money funds, stock funds, and one side of the bond fund world, according to the latest data from LSEG's Refinitiv Lipper team. In the U.S. Weekly FundFlows Insight report for the week endeing February 22, 2023 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $2.1 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's third week of outflows in four weeks, down from $5.6 billion in net inflows last week. Long-term (i.e. non-money market) funds suffered $7.5 billion in net outflows this week, up fromi $3.1 billion. Money market funds brought in $5.4 billion in net inflows this week. That's down from $8.7 billion last week. On the flip side, equity funds suffered $5.6 billion in net outflows this week, up from $1.7 billion last week. Tax-exempt fixed income funds suffered $1.7 billion in net outflows this week (up from $68 million), and taxable fixed income suffered $295 million in net outflows (down from $1.3 billion). Equity ETFs suffered $3.5 billion in net outflows this week. It was their first week of outflows in five weeks, down from $783 million in net inflows last week. Domestic equity ETFs suffered $5.2 billion in net outflows this week, their second week of outflows in a row. Yet nondomestic equity ETFs brought in $1.6 billion in net net inflows this week, their ninth week of inflows in a row. This week's biggest equity ETF winner was the JPMorgan BetaBuilders Europe ETF (BBEU), with $907 million in net inflows. Conventional (i.e. non-ETF) equity funds suffered $2 billion in net outflows this week. It was their 55th week in a row, down from $2.4 billion last week. Conventional domestic equity funds suffered $1.9 billion in net outflows this week, their eighth week of outflows in a row. And conventional nondomestic equity funds suffered $56 million innet outflows this week, their 45th week of outflows in 46 weeks. Taxable fixed income ETFs brought in $315 million in net inflows this week. It was their second week of inflows in three weeks. This week's biggest taxable fixed income ETF winner was BlackRock's iShares Short Treasury Bond ETF (SHV), with $3.1 billion in net inflows. Municipal bond ETFs suffered $368 million in net outflows this week. It was their five week of outflows in a row, up from $361 million last week. This week's biggest muni bond ETF winner was the iShares National Muni Bond ETF (MUB), with $105 million. Conventional taxable fixed income funds suffered $610 million in net outflows this week. It was their first week of outflows in seven weeks, down from $789 million in net inflows last week. Conventional muni bond funds suffered $1.3 billion in net outflows this week. It was their first week of outflows in seven weeks, down from $293 million in net inflows last week. Printed from: MFWire.com/story.asp?s=65626 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |