MutualFundWire.com: Long-Term Outflows Fall $9B As Money Fund Flows Jump $15B

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Tuesday, September 5, 2023

Long-Term Outflows Fall $9B As Money Fund Flows Jump $15B

Long-term fund outflows shrunk by two-thirds last week as money fund flows rebounded, 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 30, 2023 (i.e. last Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, revealed last week that $7.5 billion net flowed into mutual funds and ETFs in the U.S. last week. It was the fund industry's third week of inflows in four weeks, up from $16.7 billion in net outflows one week prior. Long-term (i.e. non-money market) funds suffered $4.4 billion in net outflows last week, down from $13.4 billion the week before.

Money market funds brought in $11.9 billion in net inflows last week, up from $3.3 billion in net outflows the week before. And tax-exempt fixed income funds brought in $408 million in net inflows last week, up from $534 million in net outflows.

On the flip side, equity funds suffered $4.6 billion in net outflows last week, down from $11.2 billion one week prior. And taxable fixed income funds suffered $217 million in net outflows last week, down week-over-week from $1.7 billion.

Equity ETFs brought in $762 million in net inflows last week. It was their eight week of inflows in ten weeks, up W/W from $7.8 billion in net outflows.

Last week's biggest equity ETF winner was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $1.5 billion in net inflows last week.

Conventional (i.e. non-ETF) equity funds suffered $5.4 billion in net outflows last week. It was their 82nd week of outflows in a row, up W/W from $3.4 billion.

Taxable fixed income ETFs brought in $2 billion in net inflows last week. It was their third week of inflows in four weeks, up W/W from $333 million.

Last week's biggest taxable fixed income ETF winner was SSGA's SPDR Bloomberg High Yield Bond ETF (JNK). The fund brought in $590 million in net inflows last week.

Municipal bond ETFs brought in $760 million in net inflows last week. It was their first week of inflows in three weeks, up W/W from $105 million in net outflows.

Conventional taxable fixed income funds suffered $2.2 billion in net outflows last week. It was their fourth week of outflows in five weeks, up W/W from $2 billion.

Conventional muni bond funds suffered $352 million in net outflows last week. It was their ninth week of outflows in ten weeks, down W/W from $429 million.

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