MutualFundWire.com: Long-Term Outflows Disappear, Thanks to Bond Funds and Alts

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Friday, January 19, 2024

Long-Term Outflows Disappear, Thanks to Bond Funds and Alts

The industry's long-tem outflows disappeared this week, thanks largely to inflows into bond funds and alternatives, 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 17, 2024 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $22.4 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's fourth week of outflows in six weeks, up from $2.1 billion last week. Long-term (i.e. non-money-market) funds brought in $100 million in net inflows this week, up from $6.4 billion in net outflows.

Taxable fixed income funds led the way with $7.8 billion in net inflows this week. Tax-exempt fixed income funds brought in $897 million in net inflows. And alts funds brought in $562 million in net inflows, up week-over-week from $458 million in net outflows.

On the flip side, money market funds suffered $22.5 billion in net outflows this week, down W/W from $4.3 billion in net inflows. Equity funds suffered $8.2 billion in net outflows this week (down W/W from $9.6 billion), commodities funds suffered $651 million in net outflows (down W/W from $1.5 billion), and mixed-assets funds suffered $195 million in net outflows (down W/W from $328 million).

Equity ETfs suffered $5 billion in net outflows this week. It was their second week of outflows in row, up W/W from $3.5 billion.

This week's biggest equity ETF winner, for the second week in a row, was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $421 million in net inflows, down W/W from $2.4 billion.

Conventional (i.e. non-ETF) equity funds suffererd $3.3 billion in net outflows this week. It was their 101st week of outflows in a row, down W/W from $6.2 billion.

Taxable fixed income ETFs brought in $7 billion in net inflows this week. It was their fourth week of inflows in a row, up W/W from $4.7 billion.

This week's biggest taxable fixed income ETF winner, for the second week in a row, was BlackRock's iShares iBoxx $Investment Grade Corporate Bond ETF (LQD). The fund brought in $696 million in net inflows, down W/W from $3.5 billion.

Conventional taxable fixed income funds brought in $806 million in net inflows this week. It was their third week of inflows in a row, up W/W from $768 million.

Municipal bond ETFs brought in $189 million in net inflows this week. It was their first week of inflows in three weeks, up W/W from $939 million in net outflows.

Conventional muni bond funds brought in $707 million in net inflows this week. It was their second week of inflows in a row, down W/W from $978 million.

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