MutualFundWire.com: Flows Plunge By $50.5B

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Friday, October 13, 2023

Flows Plunge By $50.5B

A $57.1-billion money fund flows reversal drove a big drop in industry flows this week, 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 October 11, 2023 (i.e. Wednesday), Tom Roseen, senior research analyst at LSEG Lipper, reveals that $17.6 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's third week of outflows in four weeks, down from $32.9 billion in net inflows last week. Long-term (i.e. non-money-market) funds suffered $5 billion in net outflows this week, down week-over-week from $11.6 billion.

On the one hand, fixed income funds brought in $1.3 billion in net inflows this week.

On the other hand, money market funds suffered $12.6 billion in net outflows this week, down W/W from $44.5 billion in net inflows. Equity funds suffered $4.8 billion in net outflows this week (up W/W from $1.9 billion), commodities funds suffered $770 million in net outflows (up W/W from $482 million), mixed assets funds suffered $396 million in net outflows (down W/W from $552 million), and alternatives funds suffered $305 million in net outflows (down W/W from $992 million).

Equity ETFs brought in $855 million in net inflows this week. It was their second week of inflows in a row, down W/W from $4.7 billion.

Domestic equity ETFs brought in $951 million in net inflows this week, their second week of inflows in a row. Yet non-domestic equity ETFs suffered $96 million in net outflows this week, their fourth week of outflows in five weeks. And alternative equity ETFs brought in $19.5 million in net inflows.

This week's biggest equity ETF winner was the Invesco QQQ Trust Series 1 (QQQ). The fund brought in $2.8 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $5.7 billion in net outflows this week. It was their 87th week of outflows in a row, down W/W from $6.6 billion.

Conventional domestic equity funds suffered $4.3 billion in net outflows this week, their 88th consecutive week of outflows. Conventional non-domestic equity funds suffered $1.3 billion in net outflows, their 31st week of outflows in a row. And conventional alternative equity funds suffered $325 million in net outflows.

Mixed asset ETFs suffered $172 million in net outflows this week. And conventional mixed asset funds suffered $224 million in net outflows.

Commodity ETFs suffered $666 million in net outflows this week. And conventional commodity funds suffered $104 million in net outflows.

Taxable fixed income ETFs brought in $4.8 billion in net inflows this week. It was their first week of inflows in three weeks, up W/W from $132 million in net outflows).

This week's biggest taxable fixed income ETF winner, for the second week in a row, was SSGA's SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The fund brought in $1.9 billion in net inflows, up W/W from $877 million.

Conventional taxable fixed income funds suffered $2.7 billlion in net outflows this week. It was their fifth week of outflows in a row, down W/W from $6.3 billion.

Municipal bond ETFs brought in $518 million in net inflows this week. It was their fifth consecutive week of inflows, up W/W from $74 million.

This week's biggest muni bond ETF winner was BlackRock's iShares National Muni Bond ETF (MUB). The fund brought in $387 million in net inflows this week.

Conventional muni bond funds suffered $1.3 billion in net outflows this week. It was their tenth week of outflows in a row, roughly unchanged W/W.

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