MutualFundWire.com: Equity Fund Flows Improve By $2.7B

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Friday, June 2, 2023

Equity Fund Flows Improve By $2.7B

Industry equity fund flows improved by about $2.7 billion this week, even as money fund inflows fell by more than 91 percent, according to the latest data from the LSEG Lipper team.

Tom Roseen
LSEG Lipper
Head of Research Services

In the U.S. Weekly FundFlows Insight report for the week ending May 31, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper (fka 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 first week of outflows in six weeks, down from $47.2 billion in net inflows last week. Long-term funds (i.e. non-money market funds) suffered $5.9 billion in net outflows this week, down from $4.1 billion in net inflows.

Money market funds brought in $3.8 billion in net inflows this week, their sixth week of inflows in a row but down from $43.1 billion last week. And equity funds brought in $2.2 billion in net inflows this week, up from $513 million in net outflows.

On the flip side, taxable fixed income funds suffered $6.7 billion in net outflows this week, down from $5.5 billion in net inflows last week. And tax-exempt fixed income funds suffered $1.3 billion in net outflows this week, up from $847 million.

Equity ETFs brought in $7.2 billion in net inflows this week. It was their second week of inflows in a row, roughly level with last week.

Domestic equity ETFs brought in $6.6 billion in net inflows this week, their second week of inflows in a row. And non-domestic equity ETFs brought in $631 million in net inflows, their fourth week of inflows in a row.

This week's biggest equity ETF winner, for the fourth week in a row, was SSGA's SPDR S&P 500 ETF (SPY). The fund brought in $5.3 billion in net inflows this week, up from $2.1 billion last week.

Conventional (i.e. non-ETF) equity funds suffered $5 billion in net outflows this week. It was their 69th week of outflows in a row, down from $7.7 billion last week.

Conventional domestic equity funds suffered $4.7 billion in net outflows this week, their 22nd week of outflows in a row. And conventional non-domestic equity funds suffered $345 million in net outflows, their 15th week of outflows in a row.

Taxable fixed income ETFs suffered $957 million in net outflows this week. It was their first week of outflows in four weeks.

This week's biggest taxable bond ETF winner was BlackRock's iShares Core US Aggregate Bond ETF (AGG). The fund brought in $552 million in net inflows.

Municipal bond ETFs brought in $45 million in net inflows this week. It was their first week of inflows in three weeks, up from $1 million in net outflows last week.

This week's biggest muni bond ETF winner was the iShares National Muni Bond ETF (MUB). The fund brought in $233 million in net inflows.

Conventional taxable bond funds suffered $5.8 billion in net outflows this week. It was their 15th week of outflows in a row, up from $264 million last week.

Conventional muni bond funds suffered $1.4 billion in net outflows this week. It was their 15th week of outflows in a row, up from $847 million last week.

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