Money funds' flows soured by $57 billion this year, even as long-term funds' flows improved by nearly $19 billion, according to the latest data from LSEG's Refinitiv Lipper team.

Tom Roseen Refinitiv Lipper Head of Research Services

In the U.S. Weekly FundFlows Insight report for the week ending March 8, 2023 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $853 million net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's second week of inflows in a row, down from $38.8 billion last week. Long-term (i.e. non-money market) funds brought in $2.853 billion in net inflows this week, up from $16.105 billion in net outflows.

Taxable fixed income funds brought in $3.9 billion in net inflows this week. That's up from $1.7 billion in net outflows last week.

On the flip side, money market funds suffered $2 billion in net outflows this week (down from $55 billion in net inflows last week), equity funds suffered $735 million in net outflows this week (down from $13.5 billion), and tax-exempt fixed income funds suffered $308 million in net outflows this week (down from $905 million).

Equity ETFs brought in $3.2 billion in net inflows this week. It was their first week of inflows in three weeks, up from $7.6 billion in net outflows last week.

Domestic equity ETFs brought in $3.2 billion in net inflows this week, their first week of inflows in four weeks. And non-domestic equity ETFs suffered $5 million in net outflows this week, their first week of outflows in 11 weeks.

This week's biggest equity ETF winner was the Invesco QQQ Trust 1 (QQQ), with $1.1 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $3.9 billion in net outflows this week. It was their 57th week of outflows in a row, down from $6 billion last week.

Conventional domestic equity funds suffered $3.8 billion in net outflows this week, their tenth week of outflows in a row. And conventional non-domestic equity funds suffered $73 million in net outflows, their third week of outflows in a row.

Taxable fixed income ETFs brought in $4.9 billion in net inflows this week. It was their third week of inflows in a row.

This week's biggest taxable fixed income ETF winner was SSGA's SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), with $723 million in net inflows.

Conventional taxable fixed income funds suffered $1 billion in net outflows this week. It was their third week of outflows in a row, up from $3.4 million last week.

Municipal bond ETFs brought in $50 million in net inflows this week. It was their first week of inflows in seven weeks, up from $265 million in net outflows last week.

This week's biggest muni bond ETF winner was BlackRock's iShares National Muni Bond ETF (MUB), with $105 million in net inflows.

Conventional muni bond funds suffered $358 million in net outflows this week. It was their third week of outflows in a row, down from $640 million last week. 

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