MutualFundWire.com: Stock Funds Suffer a $37B Flows Reversal

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Friday, June 23, 2023

Stock Funds Suffer a $37B Flows Reversal

Stock funds' net flows plummeted by $36.9 billion this week as industry outflows returned, according to the latest data from the LSEG Lipper team.

Jack Fischer
LSEG Lipper
Senior Research Analyst

In the U.S. Weekly FundFlows Insight report for the week ending June 21, 2023 (i.e. Wednesday), Jack Fiscsher, senior research analyst at LSEG Lipper, reveals that $29.7 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 three weeks, down from $19.2 billion in net inflows last week. Long-term funds (i.e. non-money market funds) suffered $13.6 billion in net outflows this week, down from $26 billion in net inflows.

Equity funds dominated again this week, suffering $17 billion in net outflows, down from $19.9 billion in net inflows last week. And money market funds suffered $16.1 billion in net outflows this week, up from $6.8 billion.

On the flip side, taxable fixed income funds brought in $2.8 billion in net inflows this week, down from $6.4 billion last week. And tax-exempt fixed income funds brought in $672 million in net inflows this week, up from $275 million in net outflows.

Equity ETFs suffered $12.1 billion in net outflows this week. It was their second week of outflows in three weeks and their third largest weekly outflows year-to-date, down from $25.2 billion in net inflows last week.

This week's biggest equity ETF winner was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $2.7 billion in net inflows this week.

Conventional (i.e. non-ETF) equity funds suffered $4.4 billion in net outflows this week. It was their 72nd week of outflows in a row, down from $5.3 billion last week.

Fixed income ETFs brought in $3.1 billion in net inflows this week. it was their sixth week of inflows in seven weeks.

This week's biggest taxable fixed income ETF winner, for the second week in a row, was BlackRock's iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). The fund brought in $1.5 billion in net inflows, up from $950 million last week.

Municipal bond ETFs brought in $514 million in net inflows this week. It was their week of inflows in three weeks, up from $89 million in net outflows last week.

Conventional taxable fixed income funds suffered $313 million in net outflows this week. It was their first week of outflows in three weeks, down from $2 billion in net inflows last week.

Conventional muni bond funds brought in $168 million in net inflows this week. It was their second week of inflows in three weeks, up from $168 million in net outflows last week.

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