MutualFundWire.com: Long-Term Outflows Quadruple to $15.7B
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Friday, May 5, 2023

Long-Term Outflows Quadruple to $15.7B


Long-term (i.e. non-money market) fund outflows more than quadrupled this week, and money fund inflows fell by more than 56 percent, 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 May 3, 2023 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $5.8 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's 2nd week of inflows in a row, down from $46.1 billion last week. Yet long-term funds suffered $15.7 billion in net outflows this week, up from $3.7 billion.

Money market funds dominated flows again this week, bringing in $21.5 billion in net inflows. That's down from $49.8 billion last week.

On the flip side, equity funds suffered $14 billion in net outflows this week (up from $2 billion last week), taxable fixed income funds suffered $930 million in net outflows this week (down from $1.6 billion), and tax-exempt fixed income funds suffered $846 million in net outflows this week (up from $92 million).

Equity ETFs suffered $7.8 billion in net outflows this week. It was their first week of outflows in four weeks, down from $6.1 billion in net inflows last week.

Domestic equity ETFs suffered $7.1 billion in net outflows, their first week of outflows in four weeks. And non-domestic equity ETFs suffered $714 million in net outflows this week, their first week of outflows in five weeks.

This week's biggest equity ETF winner was the Invesco QQQ Trust 1 (QQQ), with $2.9 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $6.2 billion in net outflows this week. It was their 65th week of outflows in a row, down from $8.1 billion last week.

Conventional domestic equity funds suffered $5.3 billion in net outflows this week, their 18th week of outflows in a row. And conventional non-domestic equity funds suffered $854 million in net outflows, their 11th week of outflows in a row.

Taxable fixed income ETFs suffered $648 million in net outflows this week. It was their second week of outflows in a row.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares Core US Aggregate Bond ETF (AGG), with $676 million in net inflows.

Municipal bond ETFs suffered $82 million in net outflows this week. It was their third week of outflows in four weeks, down from $416 million in net inflows last week.

This week's biggest muni bond ETF winner was the iShares National Muni Bond ETF (MUB), with $36 million in net inflows.

Conventional taxable fixed income funds suffered $253 million in net outflows this week. It was their 11th week of outflows in a row, down from $1.4 billion last week.

Conventional muni bond funds suffered $764 million in net outflows this week. It was their 11th week of outflows in a row, up from $509 million.


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