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Rating:Money Market Fund Flows Jump $110B Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 17, 2023

Money Market Fund Flows Jump $110B

Reported by Neil Anderson, Managing Editor

Money funds' flows improved by $110 billion this week, even as long-term funds' flows worsened by more than $22 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 15, 2023 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $88.4 billion net flows into mutual funds and ETFs in the U.S. this week. It was the industry's third week of inflows in a row, up from $853 million last week. Long-term (i.e. non-money market) funds suffered $19.6 billion in net outflows this week, down from $2.853 billion in net inflows.

Money market funds brought in $108 billion in net inflows this week. That's their fifth largest weekly inflows on record (i.e. since 1992), up from $2 billion in net outflows last week.

On the flip side, equity funds suffered $17.7 billion in net outflows this week (up from $735 million last week), taxable fixed income funds suffered $1.5 billion in net outflows this week (down from $3.9 billion in net inflows), and tax-exempt fixed income funds suffered $461 million in net outflows this week (up from $308 million).

Equity ETFs suffered $11.9 billion in net outflows this week. It was their third week of outflows in four weeks and their largest weekly outflows since December, down from $3.2 billion in net inflows last week.

Domestic equity ETFs suffered $10.8 billion in net outflows this week. It was their fourth week of outflows in five weeks, down from $3.2 billion in net outflows last week.

Non-domestic equity ETFs suffered $1.1 billion in net outflows this week. It was their second week of outflows in a row, up from $5 million last week.

This week's biggest equity ETF winner was SSGA's SPDR S&P Regional Banking ETF (KRE), with $1.4 billion in net inflows. It was the fund's strongest weekly inflows since its inception back in 2006.

Conventional (i.e. non-ETF) equity funds suffered $5.8 billion in net outflows this week. It was their 58th week of outflows in a row, up from $3.9 billion last week.

Conventional domestic equity funds suffered $4.8 billion in net outflows this week. It was their 11th week of outflows in a row, up from $3.8 billion last week.

Conventional non-domestic equity funds suffered $1 billion in net outflows this week. It was their third week of outflows in a row, up from $73 million last week.

Taxable fixed income ETFs brought in $3.7 billion in net inflows this week. It was their fourth week of inflows in a row, down from $4.9 billion last week.

This week's biggest taxable fixed income ETF winner was, for the second week in a row, SSGA's SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), with $2.5 billion in net inflows. That's up from $723 million last week/

Conventional taxable fixed income funds suffered $5.2 billion in net outflows this week. It was their fourth week of outflows in a row, up from $1 billion last week.

Municipal bond ETFs suffered $83 million in net outflows this week. It was their seventh week of outflows in eight weeks, down from $50 million in net inflows last week.

This week's biggest muni bond ETF winner, for the second week in a row, was BlackRock's iShares National Muni Bond ETF (MUB), with $170 million in net inflows. That's up from $105 million last week.

Conventional muni bond funds suffered $378 million in net outflows this week. It was their fourth week of outflows in a row, up from $358 million last week. 

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