MutualFundWire.com: For the 1st Time In Eight Weeks, MMF Flows Sour

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Friday, December 15, 2023

For the 1st Time In Eight Weeks, MMF Flows Sour

Money fund flows reversed for the first time in almost two months, 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 teh week ending December 13, 2023 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $19.1 billion net flows out of mutual funds and ETFs in the U.S. this week. It was the industry's first week of outflows in eight weeks, down from $52.8 billion in net inflows last week. Long-term (i.e. non-money-market) funds suffered $2.9 billion in net outflows this week, down from $1.9 billion.

Equity funds brought in $2.2 billion in net inflows this week, up from $663 million last week. And commodities funds brought in $461 million in net inflows, up from $275 million in net outflows.

On the flip side, money market funds suffered $16.2 billion in net outflows this week. It was their first week of outflows in eight weeks, down from $54.7 billion in net inflows last week.

Taxable fixed income funds suffered $3.7 billion in net outflows this week. Alternatives funds suffered $783 million in net outflows this week, up from $370 million in net outflows last week. Tax-exempt fixed income funds suffered $524 million in net outflows this week. And mixed assets funds suffered $444 million in net outflows this week, down from $1 billion.

Equity ETFs brought in $7.9 billion in net inflows this week. It was their 11th week of inflows in a row, down from $10 billion last week.

This week's biggest equity ETF winner was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $3 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $5.8 billion in net outflows this week. It was their 97th week of outflows in a row, down from $6.8 billion last week.

Taxable fixed income ETFs suffered $1 billion in net outflows this week. It was their second consecutive week of outflows, down from $1.7 billion last week.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares Core US Aggregate Bond ETF (AGG). The fund brought in $474 million in net inflows.

Conventional taxable fixed income funds suffered $2.6 billion in net outflows this week. It was their 13th week of outflows in 14 weeks, down from $987 million in net inflows.

Municipal bond ETFs brought in $86 million in net inflows this week. It was their 13th week of inflows in 14 weeks, up from $6 million in net outflows last week.

Conventional muni bond funds suffered $611 million in net outflows this week. It was their 19th week of outflows running, up from $139 million last week.

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