MutualFundWire.com: Stock MF Outflows Jump Fivefold to $27B

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Friday, December 22, 2023

Stock MF Outflows Jump Fivefold to $27B

Stock mutual fund flows nearly quintupled last week, and industry outflows overall more than doubled, 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 December 20, 2023 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $42.8 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's second week of outflows in a row (also its third largest weekly outflows of 2023 and its highest since October), up from $19.1 billion last week. Long-term (i.e. non-money-market) funds suffered $17.7 billion in net outflows this week, up week-over-week from $2.9 billion.

Tax-exempt fixed income funds were the sole winning broad category this week, bringing in $147 million in net inflows. That's up W/W from $524 million in net outflows last week.

On the flip side, money funds led the way with $25.1 billion in net outflows this week, up W/W from $16.2 billion. Equity funds suffered $9.5 billion in net outflows this week (down W/W from $2.2 billion in net inflows), taxable fixed income funds suffered $4.9 billion in net outflows (up W/W from $3.7 billion), mixed-assets funds suffered $1.3 billion in net outflows (up W/W from $444 million), alternatives funds suffered $1.1 billion in net outflows (up W/W from $783 million), and commodities funds suffered $1.1 billion in net outflows (down W/W from $461 million in net inflows).

Equity ETFs brought in $17.4 billion in net inflows this week. It was their 12th consecutive week of inflows, up W/W from $7.9 billion.

This week's biggest equity ETF winner was SSGA's SPDR S&P 500 ETF Trust (SPY). The fund brought in $37.7 billion in net inflows (more than double the net inflows for all stock ETFs combined).

Conventional (i.e. non-ETF) equity funds suffered $26.9 billion in net outflows this week. It was their 97th week of outflows in a row and their largest weekly outflows in more than one year, up W/W from $5.8 billion.

Taxable fixed income ETFs suffered $2.4 billion in net outflows this week. It was their third consecutive week of outflows, up W/W from $1 billion.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares 20+ Year Treasury Bond ETF (TLT). The fund brought in $1.1 billion in net inflows this week.

Conventional taxable fixed income funds suffered $2.6 billion in net outflows this week. It was their 14th week of outflows in 15 weeks and was roughly unchanged W/W.

Municipal bond ETFs brought in $519 million in net inflows this week. It was their 14th week of inflows in 15 weeks, up W/W from $86 million.

Conventional muni bond funds suffered $372 million in net outflows this week. It was their 19th consecutive week of outflows in a row, down W/W from $611 million.

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