MutualFundWire.com: Stock Fund Outflows Fall 77 Percent As Money Fund Inflows Spike

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Friday, August 18, 2023

Stock Fund Outflows Fall 77 Percent As Money Fund Inflows Spike

Net industry stock fund outflows fell by more than three quarters this week, even as money funds' inflows jumped to their highest level in months, 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 August 16, 2023 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $31.3 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's fourth week of inflows in five weeks, up from $10.8 billion last week. Long-term (i.e. non-money market) funds suffered $4.5 billion in net outflows this week, down from $7.6 billion.

Money market funds were the main bright spot this week, bringing in $35.8 billion in net inflows (up from $18.4 billion last week). It was money funds' sixth week of inflows in seven weeks and their largest weekly inflows since May.

On the flip side, taxable fixed income funds suffered $2.3 billion in net outflows this week, down from $785 million in net inflows last week. Equity funds suffered $2 billion in net outflows this week, down from $8.6 billion. And tax-exempt fixed income funds suffered $264 million in net outflows this week, down from $278 million.

Equity ETFs brought in $2.5 billion in net inflows this week. It was their seventh week of inflows in eight weeks, up from $3.1 billion in net outflows last week.

This week's biggest equity ETF winner was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $2.1 billion in net inflows this week.

Conventional (i.e. non-ETF) equity funds suffered $4.5 billion in net outflows this week. It was their 80th week of outflows in a row, down from $5.6 billion last week.

Taxable fixed income ETFs suffered $2.2 billion in net outflows this week. It was their second week of outflows in three weeks, down from $741 million in net inflows last week.

This week's biggest taxable fixed income ETF winner, for the second week in a row, was BlackRock's iShares 0-3 Month Treasury Bond ETF (SGOV). The fund brought in $442 million in net inflows this week, down from $542 million last week.

Municipal bond ETFs suffered $63 million in net outflows this week. It was their second week of outflows in three weeks, down from $281 million in net inflows last week.

Conventional taxable fixed income funds suffered $32 million in net outflows this week. It was their second week of outflows in three weeks, down from $44 million in net inflows last week.

Conventional muni bond funds suffered $201 million in net outflows this week. It was their seventh week of outflows in a row, up from $3 million last week.

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