MutualFundWire.com: Long-Term Inflows Jump By $7B, And ...

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Friday, July 7, 2023

Long-Term Inflows Jump By $7B, And ...

Inflows into long-term funds climbed by $7 billion this week, and money fund flows jumped by $18 billion, 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 July 5, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $22.8B billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's first week of inflows in three weeks, up from $2.2 billion in net outflows last week. Long-term funds (i.e. non-money market funds) brought in $7.2 billion in net inflows this week, up from $200 million.

Money market funds led the way with $15.6 billion in net inflows this week, up from $2.4 billion in net outflows last week. Equity funds brought in $6.2 billion in net inflows this week (up from $2.8 billion), and taxable fixed income funds brought in $2 billion in net inflows this week (up from $2.5 billion in net outflows).

On the flip side, tax-exempt fixed income funds suffered $856 million in net outflows this week. That's up from $30 million last week.

Equity ETFs brought in $13.3 billion in net inflows this week. It was their second week of inflows in a row, up from $7 billion last week.

This week's biggest equity ETF winner, for the second week in a row, was SSGA's SPDR S&P 500 ETF (SPY). The fund brought in $5.1 billion in net inflows this week, up from $5 billion last week.

Conventional (i.e. non-ETF) equity funds suffered $7.1 billion in net outflows this week. It was their 74th week of outflows in a row, up from $4.2 billion last week.

Taxable fixed income funds brought in $336 million in net inflows this week. It was their fifth week of inflows in six weeks, up from $1.8 billion in net outflows last week.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares iBoxx $Investment Grade Corporates ETF (LQD). The fund brought in $459 million in net inflows this week.

Municipal bond ETFs suffered $201 million in net outflows this week. It was their first week of outflows in three weeks, down from $81 million in net inflows last week.

Conventional taxable fixed income funds brought in $1.6 billion in net inflows this week. It was their first week of inflows in three weeks, up from $700 million in net outflows last week.

Conventional muni bond funds suffered $655 million in net outflows this week. It was their third week of outflows in four weeks, up from $106 million last week.

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