MutualFundWire.com: This Outflows Streak Reaches 120 Weeks

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Tuesday, June 4, 2024

This Outflows Streak Reaches 120 Weeks

Conventional (i.e. non-ETF) stock mutual funds continue their outflows streak, and most other fund types joined them in the red (with flows) last 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 29, 2024 (i.e. last Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, confirms that $9.6 billion net flowed out of mutual funds and ETFs in the U.S. last week. It was the industry's first week of outflows in six weeks and a net $46-billion flows drop from three weeks earlier. Long-term (i.e. non-money-market) funds suffered $7.2 billion in net outflows last week, a $19.1-billion net drop from three weeks earlier.

Alternatives funds bucked the overall industry trend, bringing in $852 million in net inflows last week. That's up by $468 million from three weeks earlier.

On the flip side, equity funds suffered $6.9 billion in net outflows last week, a $10.5-billion net flows drop from three weeks earlier. Other outflows suffering categories last week included: money market funds, $2.4 billion in net outflows (a $26.9-billion net drop from three weeks earlier); commodities funds, $584 million (a $665-million net flows drop in three weeks); taxable fixed income funds, $318 million (an $8.418-billion net flows drop from three weeks earlier); mixed assets funds, $175 million (a $115-million drop in three weeks); and tax-exempt fixed income funds, $95 million (a $1.195-billion net drop from three weeks earlier).

Equity ETFs suffered $2.1 billion in net outflows last week. It was their first week of outflows in six weeks, down by $8.1 billion net in three weeks.

Last week's biggest equity ETF winner was the Invesco QQQ Trust Series 1 (QQQ). The fund brought in $2.3 billion in net inflows.

Conventional equity funds suffered $4.7 billion in net outflows last week. It was their 120th consecutive week of outflows, up by $1.4 billion from three weeks ago.

Taxable fixed income ETFs brought in $480 million in net inflows last week. It was their week of inflows in a row, down by $8.92 billion in three weeks.

Last week's biggest taxable fixed income ETF winner was BlackRock's iShares 0-3 Month Treasury Bond ETF (SGOV). The fund brought in $221 million in net inflows.

Conventional taxable fixed income funds suffered $794 million in net outflows last week. It was their fifth consecutive week of outflows and their eighth week of outflows in ten weeks, yet it was a $606-mllion drop from three weeks earlier.

Municipal bond ETFs suffered $34 million in net outflows last week. It was their second week of outflows in a row and a $956-million net flows drop in three weeks.

Conventional muni bond funds suffered $55 million in net outflows last week. It was their three consecutive week of outflows and a $188-million net flows drop from three weeks earlier.

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