MutualFundWire.com: Flows Sour By $66B
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Friday, February 9, 2024

Flows Sour By $66B


Net inflows flows soured by nearly $66 billion this week, thanks largely to big swings in stock funds and money funds, 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 end February 7, 2024 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $15.7 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 three weeks, down week-over-week from $50.1 billion in net inflows. Long-term (i.e. non-money-market) funds suffered $14.745 billion in net outflows this week, down from $10.2 billion in net inflows last week.

Fixed income funds led the pack with $2.9 billion in net inflows this week. And alternatives funds brought in $291 million in net inflows, up W/W from $161 million in net outflows.

On the flip side, equity funds dominated the overall flows numbers this week, thanks to $17.3 billion in net outflows, down W/W from $3.5 billion in net inflows. Money market funds suffered $955 million in net outflows this week (down W/W from $39.9 billion in net inflows), commodity funds suffered $457 million in net outflows (down W/W from $733 million), and mixed-assets funds suffered $136 million in net outflows (down W/W from $239 million).

Equity ETFs suffered $11.6 billion in net outflows this week. It was their first week of outflows in three weeks, down W/W from $10.1 billion in net inflows.

Domestic equity ETFs suffered $13.1 billion in net outflows this week, their first week of outflows in three weeks. Yet non-domestic equity ETFs brought in $1.5 billion in net inflows this week, their seventh consecutive week of inflows.

This week's biggest equity ETF winner, for a second week running, was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $1.7 billion in net inflows, down W/W from $3.8 billion.

Conventional (i.e. non-ETF) equity funds suffered $5.8 billion in net outflows this week. It was their 104th week of outflows in a row, down W/W from $6.6 billion.

Conventional domestic equity funds suffered $5.3 billion in net outflows this week, their 105th consecutive week of outflows. And conventional non-domestic equity funds suffered $408 million in net outflows, their 48th week of outflows running.

Alts ETFs brought in $268 million in net inflows this week. And conventional alts funds brought in $24 million in net inflows.

Mixed-assets ETFs brought in $35 million in net inflows this week. Yet conventional mixed-assets funds suffered $171 million in net outflows.

Commodities ETFs suffered $477 million in net outflows this week. Yet conventional commodities funds brought in $2 million in net inflows.

Taxable fixed income ETFs brought in $368 million in net inflows this week. It was their seventh week of inflows in a row, down W/W from $889 million.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares Core US Aggregate Bond ETF (AGG). The fund brought in $722 million in net inflows.

Conventional taxable fixed income funds brought in $2.7 billion in net inflows this week. It was their sixth consecutive week of inflows, down W/W from $5.5 billion.

Municipal bond ETFs suffered $423 million in net outflows this week. It was their second week of outflows in three weeks, down W/W from $817 million in net inflows.

This week's biggest muni bond ETF winner was the JPMorgan Municipal ETF (JMUB). The fund brought in $28 million in net inflows.

Conventional muni bond funds brought in $322 million in net inflows this week. It was their sixth week of inflows in a row, down W/W from $660 million.


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