MutualFundWire.com: Inflows Shrink By $10.8B, Thanks to Money Funds

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Friday, December 8, 2023

Inflows Shrink By $10.8B, Thanks to Money Funds

Industry inflows fell by $10.8 billion this week, driven largely by a slip in money fund flows, according to the latest data from the LSEG Lipper team.

Tom Roseen
LSEG Lipper
Head of Research Services

In the U.S. Weekly FundFlows Insight report for the week ending December 6, 2023 (i.e. Wednesday), Tom Roseen, head of research at LSEG Lipper, reveals that $52.8 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's seventh week of inflows in a row, down from $63.6 billion last week. Long-term (i.e. non-money-market) funds suffered $1.9 billion in net outflows this week, down from $4.3 billion.

Money market funds again led the way, bringing in $54.7 billion in net inflows this week, down week-over-week from $67.9 billion. And equity funds brought in $663 million in net inflows, up W/W from $2.8 billion in net outflows.

On the flip side, mixed assets funds suffered $1 billion in net outflows this week, up W/W from $249 million. Fixed income funds suffered $837 million in net outflows this week, alternatives funds suffered $370 million in net outflows (down W/W from $98 million in net inflows), and commodities funds suffered $275 million in net outflows (down W/W from $481 million).

Equity ETFs brought in $10 billion in net inflows this week. It was their tenth week of inflows in a row, up W/W from $2.5 billion.

Domestic equity ETFs brought in $10.5 billion in net inflows, their tenth consecutive week of inflows. Yet non-domestic equity ETFs suffered $526 million in net outflows, their first week of outflows in five weeks.

This week's biggest equity ETF winner, for the second week running, was SSGA's SPDR S&P 500 ETF Trust (SPY). The fund brought in $6.8 billion in net inflows, up W/W from $3.7 billion.

Conventional (i.e. non-ETF) equity funds suffered $9.3 billion in net outflows this week. It was their 96th consecutive week of outflows, up W/W from $5.3 billion.

Conventional domestic equity funds suffered $6.8 billion in net outflows this week, their 96th week running of outflows. And conventional non-domestic equity funds suffered $2.6 billion in net outflows, their 39th week of outflows in a row.

Alts ETFs brought in $156 million in net inflows this week. Yet conventional alts funds suffered $526 million in net outflows.

Mixed assets ETFs brought in $53 million in net inflows this week. Yet conventional mixed assets funds suffered $1.1 billion in net outflows.

Commodities ETFs suffered $193 million in net outflows this week. And conventional commodities funds suffered $82 million in net outflows.

Taxable fixed income ETFs suffered $1.7 billion in net outflows this week. It was their first week of outflows in nine weeks, down W/W from $610 million in net inflows.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares JPMorgan USD Emerging Markets Bond ETF (EMB). The fund brought in $853 million in net inflows.

Conventional taxable fixed income funds brought in $987 million in net inflows this week. It was their first week of inflows in 13 weeks, up W/W from $1.5 billion in net outflows.

Municipal bond ETFs suffered $6 million in net outflows this week. It was their first week of outflows in 13 weeks, down W/W from $513 million in net inflows.

This week's biggest muni bond ETF winner was BlackRock's iShares National Muni Bond ETF (MUB). The fund brought in $104 million in net inflows.

Conventional muni bond funds suffered $139 million in net outflows this week. It was their 18th consecutive week of outflows, down W/W from $577 million.

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