MutualFundWire.com: Long-Term Outflows Balloon to $17B

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Friday, September 29, 2023

Long-Term Outflows Balloon to $17B

Long-term industry outflows more than doubled last week, even as money fund outflows evaporated, 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 September 27, 2023 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $16.5 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 $16.8 billion last week. Long-term (i.e. non-money-market) funds suffered $17.133 billion in net outflows this week, up week-over-week from $7.1 billion.

On the one hand, money market funds brought in $633 million in net inflows this week. That's up from $9.7 billion in net outflows last week.

On the other hand, equity funds suffered $9.1 billion in net outflows this week, up W/W from $7.2 billion. Taxable fixed income funds suffered $3.9 billion in net outflows this week, tax-exempt fixed income funds suffered $1.4 billion in net outflows, commodities funds suffered $1.2 billion in net outflows (up W/W from $311 million), alternatives funds suffered $992 million in net outflows (up W/W from $472 million), and mixed-assets funds suffered $635 million in net outflows (up W/W from $292 million).

Equity ETFs suffered $2.3 billion in net outflows this week. It was their third week of outflows in four weeks, up W/W from $1.8 billion.

This week's biggest equity ETF winner was SSGA's SPDR S&P 500 ETF Trust (SPY). The fund brought in $11 billion in net inflows this week.

Conventional (i.e. non-ETF) equity funds suffered $6.8 billion in net outflows this week. It was their 63rd week of outflows in a row, up W/W from $5.4 billion.

Taxable fixed income ETFs suffered $778 million in net outflows this week. It was their first week of outflows in three weeks, down W/W from $2.7 billion in net inflows.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares 20+ Year Treasury Bond ETF (TLF). The fund brought in $656 million in net inflows this week.

Conventional taxable fixed income funds suffered $3.1 billion in net outflows this week. It was their third week of outflows in a row, up W/W from $1.4 billion.

Municipal bond ETFs brought in $28 million in net inflows this week. It was their third week of inflows in a row, down W/W from $526 million.

Conventional muni bond funds suffered $1.4 billion in net outflows this week. It was their eighth week of outflows in a row, roughly unchanged W/W.

Editor's Note: The LSEG Lipper team is switching to powering these reports with data from Lipper's Global Fund Flows application. Meanwhile, the Lipper U.S. Fund Flows is scheduled to be decommissioned tomorrow.

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