MutualFundWire.com: Money Funds Dominate As Inflows Rise By $16.5B

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Friday, May 3, 2024

Money Funds Dominate As Inflows Rise By $16.5B

Money funds drove an industry inflows quadrupling this week, 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 May 1, 2024 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, confirms that $22 billon net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's second consecutive inflows week, up by $16.5 billion over last week. Long-term (i.e. non-money-market) funds suffered $4.2 billion in net outflows this week, up week-over-week by $4 billion.

Money market funds led the jump, thanks to an estimated $26.2 billion in net inflows this week, up W/W by $20.5 billion. Other inflows winning categories this week included: municipal bond funds, $515 million in net inflows (up W/W by $315 million); and commodities funds, $214 million in net inflows (down W/W by $187 million).

On the flip side, equity funds took the outflows lead this week, thanks to $4.2 billion in net outflows, up W/W by $4.1 billion. Other outflows suffering categories included: mixed-assets funds, $444 million in net outflows (up W/W by $63 million); taxable fixed income funds, $253 million in net outflows (down W/W by $52 million); and alternatives, $20 million in net outflows (down W/W by $610 million).

Equity ETFs brought in $912 million in net inflows this week. It was their ninth week of inflows in ten weeks, down W/W by $4.888 billion.

This week's biggest equity ETF winner was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $1.7 billion.

Conventional (i.e. non-ETF) equity funds suffered $5.1 billion in net outflows this week. It was their 116th week of outflows in a row, down W/W by $800 million.

Taxable fixed income ETFs suffered $2.1 billion in net outflows this week. It was their second week of outflows in three weeks, down W/W by $11 billion.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares MBS ETF (MBB). The fund brought in $1.4 billion in net inflows.

Spot bitcoin ETPs (which the LSEG Lipper team categorizes as "alternative currency strategies ETFs," under the broad "taxable fixed income ETFs" label) suffered their first ever net outflows this week. Spot bitcoin ETPs as a group had netted positive inflows every week since they debuted earlier this year.

Conventional taxable fixed income funds brought in $1.8 billion in net inflows this week. It was their first week of inflows in four weeks, up W/W by $4 billion.

Muni bond ETFs brought in $89 million in net inflows this week. It was their third week of inflows in four weeks, down W/W by $499 million.

Conventional muni bond funds brought in $426 million in net inflows this week. It was their first week of inflows in four weeks, up W/W by $813 million.

Printed from: MFWire.com/story.asp?s=67375

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