MutualFundWire.com: Funds Suffer Their Worst Week In 15 Years

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Friday, October 20, 2023

Funds Suffer Their Worst Week In 15 Years

By one metric, this week was the worst one for U.S. fundsters in more than 15 years, 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 October 20, 2023 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $106.3 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's fourth week of outflows in five weeks, its 17th largest outflows week ever, and its largest since June 2008, up from $17.6 billion last week. Long-term (i.e. non-money-market) funds suffered $8.8 billion in net outflows this week, up week-over-week from $5 billion.

Money market funds drove the overall numbers, suffering $97.5 billion in net outflows this week, their fifth largest weekly outflows on record, up W/W from $12.6 billion. Equity funds suffered $3.4 billion in net outflows this week (down W/W from $4.8 billion), taxable fixed income funds suffered $2.9 billion in net outflows, commodities funds suffered $1.4 billion in net outflows (up W/W from $770 million), mixed assets funds suffered $545 million in net outflows (up W/W from $396 million), tax-exempt fixed income funds suffered $297 million in net outflows, and alternatives funds suffered $182 million in net outflows (down W/W from $305 million).

Equity ETFs brought in $2.2 billion in net inflows this week. It was their third consecutive week of inflows, up W/W from $855 million.

This week's biggest equity ETF winner was BlackRock's iShares Russell Top 2000 Growth Index Fund (IWY). The fund brought in $508 million in net inflows.

Taxable fixed income ETFs brought in $762 million in net inflows this week. It was their second week of inflows in three weeks, down W/W from $4.8 billion.

This week's taxable fixed income ETF winner was BlackRock's iShares MBS ETF (MBB). The fund brought in $414 million in net inflows this week.

Conventional taxable fixed income funds suffered $3.7 billion in net outflows this week. It was their sixth week of outflows in a row, up W/W from $2.7 billion.

Municipal bond ETFs brought in $246 million in net inflows this week. It was their sixth consecutive week of inflows, down W/W from $518 million.

Conventional muni bond funds suffered $543 million in net outflows this week. It was their 11th week of outflows in a row, down W/W from $1.3 billion.

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