MutualFundWire.com: Stock Fund Flows Bounce Back By $20B
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Friday, June 30, 2023

Stock Fund Flows Bounce Back By $20B


Stock funds' net flows rebounded by $19.8 billion this week, even as industry outflows fell by 93 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 June 28, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $2.2 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's second week of outflows in a row, down from $29.7 billion last week. Long-term funds (i.e. non-money market funds) brought in $200 million in net inflows this week, up from $13.6 billion in net outflows.

Equity funds were the main bright spot this week, bringing in an estimated $2.8 billion in net inflows, up from $17 billion in net outflows last week.

On the flip side, taxable fixed income funds suffered $2.5 billion in net outflows this week, down from $2.8 billion in net inflows last week. Money market funds suffered $2.4 billion in net outflows this week, down from $17 billion. And tax-exempt fixed income funds suffered $30 million in net outflows, down from $672 million in net inflows.

Equity ETFs brought in $7 billion in net inflows this week. It was their second week of outflows in three weeks, down from $17 billion in net outflows last week.

Domestic equity ETFs brought in $8.2 billion in net inflows this week, their second week of inflows in three weeks. And non-domestic equity ETFs suffered $1.2 billion in net outflows this week, their second week of outflows in a row.

This week's biggest equity ETF winner was SSGA's SPDR S&P 500 ETF (SPY). The fund brought in $5 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $4.2 billion in net outflows this week. It was their 73rd week of outflows in a row, down from $4.4 billion last week.

Conventional domestic equity funds suffered $3.6 billion in net outflows this week, their 26th week of outflows in a row. And conventional non-domestic equity ETFs suffered $653 million in net outflows this week, their 19th week of outflows in a row.

Taxable fixed income ETFs suffered $1.8 billion in net outflows this week. It was their first week of outflows in four weeks.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares Core US Aggregate Bond ETF (AGG). The fund brought in $531 million in net inflows.

Municipal bond ETFs brought in $81 million in net inflows this week. It was their second week of inflows in a row, down from $514 million last week.

This week's biggest muni bond ETF winner was the Invesco National AMT-Free Municipal Bond ETF (PZA). The fund brought in $37 million in net inflows.

Conventional taxable fixed income funds suffered $700 million in net outflows this week. It was their second week of outflows in a row, up from $313 million last week.

Conventional muni bond funds suffered $106 million in net outflows this week. It was their second week of outflows in three weeks, down from $158 million in net inflows last week.


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