Long-term funds' flows worsened by more than $39 billion this week, and money funds' inflows fell by more than $54 billion, according to the latest data from LSEG's Refinitiv Lipper team.

In the U.S. Weekly FundFlows Insight report for the week ending March 29, 2023 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $39.8 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's fifth week of inflows in a row, down from $133.3 billion last week. Yet long-term (i.e. non-money market) funds suffered $21.7 billion in net outflows this week, down from $17.7 billion in net inflows.

Money market funds brought in $61.5 billion in net flows this week. It was their 17th largest inflows week on record since 1992, yet it was still down from $115.6 billion last week.

On the flip side, equity funds suffered $20.5 billion in net outflows this week, their 15th largest weekly outflows on record (down from $11.9 billion in net inflows last week). Taxable fixed income funds suffered $983 million in net outflows (down from $5.3 billion in net inflows). And tax-exempt fixed income funds suffered $194 million in net outflows (down from $427 million in net inflows).

Equity ETFs suffered $12.6 billion in net outflows this week. It was their second week of outflows in three weeks and their largest since December, down from $14.6 billion in net inflows last week.

Domestic equity ETFs suffered $12.2 billion in net outflows this week, their second week of outflows in three weeks. And non-domestic equity ETFs suffered $395 million in net outflows this week, their third week of outflows in four weeks.

This week's biggest equity ETF winner was the First Trust Nasdaq Semiconductor ETF (FTXL), with $781 million in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $7.9 billion in net outflows this week. It was their 60th week of outflows in a row, up from $2.8 billion last week.

Conventional domestic equity funds suffered $6 billion in net outflows this week (their 13th week of outflows in a row). And conventional non-domesetic equity ETFs suffered $1.9 billion in net outflow (their 6th week of outflows in a row).

Taxable fixed income ETFs brought in $3.9 billion in net inflows this week. It was their sixth week of inflows in a row.

This week's biggest taxable fixed income ETF winner was the Schwab 5-10 Year Corporate Bond ETF (SCHI), with $2 billion in net inflows.

Municipal bond ETFs suffered $90 million in net outflows this week. It was their second week of outflows in three weeks, down from $19.5 million in net inflows last week.

This week's biggest muni bond ETF winners was BlackRock's iShares California Muni Bond ETF (CMF), with $29 million in net inflows.

Conventional taxable fixed income funds suffered $4.9 billion in net outflows this week. It was their sixth week of outflows in a row, up from $3.9 billion last wek.

Conventional muni bond funds suffered $104 million in net outflows this week. It was their sixth week of outflows in a row, down from $447 million last week. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE