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Friday, January 20, 2023

Long-Term Inflows Fall $5B

Reported by Neil Anderson, Managing Editor

Net flows into long-term funds fell by $5 billion last week, as fixed income inflows fell and equity outflows more than tripled, according to the latest data from LSEG's Refinitiv Lipper team.

Jack Fischer
Refinitiv Lipper
Senior Research Analyst
In the U.S. Weekly FundFlows Insight report for the week ending January 18, 2023 (i.e. Wednesday), Jack Fischer, senior research analyst at Refinitiv Lipper, reveals that $202 million net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's fourth week of inflows in a row, down from $2.3 billion last week. Long-term (i.e. non-money market) funds brought in $5.7 billion in net inflows this week, down from $11.7 billion.

Taxable fixed income funds led the way again, this time with $8.3 billion in net inflows, down from $11 billion last week. And tax-exempt fixed income funds brought in $1.15 billion in net inflows this week, down from $2 billion.

On the flip side, money market funds suffered $5.5 billion in net outflows this week, down from $9.4 billion last week. And equity funds suffered $4.1 billion in net outflows this week, down from $1.2 billion.

Equity ETFs suffered $2.1 billion in net outflows this week. It was their second week of outflows in three weeks, down from $2 billion last week.

This week's biggest equity ETF winner was BlackRock's iShares Core MSCI Emerging Markets ETF (IEMG), with $1.5 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $2 billion in net outflows this week. It was their 50th week of outflows in a row, down from $3.2 billion last week.

On the fixed income side, ETFs brought in $6.8 billion in net inflows this week. It was their fourth week of inflows in a row.

This week's biggest taxable fixed income ETF winner was the iShares: JPM USD Emerging Markets Bond ETF (EMB), with $1.4 billion in net inflows.

Municipal bond ETFs brought in $144 million in net inflows this week. It was fourth week of inflows in a r ow and their 12th week of inflows in 13 weeks, down from $454 million last week.

Conventional taxable fixed income funds brought in $1.5 billion in net inflows this week. It was their second week of inflows in 22 weeks, up from $1.2 billion last week.

Conventional muni bond funds brought in $1.4 billion in net inflows this week. It was their second week of inflows in a row, down from $1.5 billion. 

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