MutualFundWire.com: MMFs Drive a $56B Week 1

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Friday, January 5, 2024

MMFs Drive a $56B Week 1

Money market funds helped the industry kick off the new year with weekly inflows, 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 January 3, 2024 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $56.2 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's ninth week of inflows in 11 weeks, up from $42.8 billion in net outflows two weeks ago. (The LSEG Lipper team did not release data from last week.) Long-term (i.e. non-money-market) funds suffered $800 million in net outflows this week, down from $17.7 billion.

Money funds led the way with $57 billion in net inflows this week, up from $25.1 billion in net outflows two weeks ago. And taxable fixed income funds brought in $5.7 billion in net inflows this week, up from $4.9 billion in net outflows.

On the flip side, equity funds suffered $3.9 billion in net outflows this week, down from $9.5 billion two weeks ago. Commodities funds suffered $1.1 billion in net outflows this week (roughly unchanged), alternatives funds suffered $617 million in net outflows (down from $1.1 billion), tax-exempt fixed income funds suffered $558 million in net outflows (down from $147 million in net inflows), and mixed assets funds suffered $353 million in net outflows (down from $1.3 billion).

Equity ETFs brought in $6.4 billion in net inflows this week. It was their 14th week of inflows in a row, down from $17.4 billion two weeks ago.

This week's biggest equity ETF winner was BlackRock's iShares Russell 200 ETF (IWN). The fund brought in $1.8 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $10.3 billion in net outflows this week. It was their 99th week of outflows in a row, down from $26.9 billion two weeks ago.

Taxable fixed income ETFs brought in $5.7 billion in net inflows this week. It was their second week of inflows in a row, up from $2.4 billion in net outflows two weeks ago.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares iBoxx $High Yield Corporate Bond ETF (HYG). The fund brought in $612 million in net inflows.

Conventional taxable fixed income funds suffered $78 million in net outflows this week. It was their 15th week of outflows in 17 weeks, down from $2.6 billion two weeks ago.

Municipal bond ETFs suffered $203 million in net outflows this week. It was their first week of outflows in four weeks, down from $519 million in net inflows two weeks ago.

Conventional muni bond funds suffered $354 million in net outflows this week. It was their 23rd week of outflows in a row, down from $372 million two weeks ago.

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