MutualFundWire.com: 100 Weeks of Outflows and Counting

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Friday, January 12, 2024

100 Weeks of Outflows and Counting

Stock mutual funds' outflows streak has now stretched for nearly two years, 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 January 10, 2024 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $2.1 billion net flowed out of mutual funds and ETFs in the U.S. this week. It was the industry's first week of outflows in three weeks, down from $56.2 billion in net inflows last week. Long-term (i.e. non-money-market) funds suffered $6.4 billion in net outflows this week, up from $800 million.

Fixed income funds led the way with $5.5 billion in net inflows this week, up from $5.2 billion last week. And money market funds brought in $4.3 billion in net inflows this week, down from $57 billion.

On the flip side, equity funds suffered $9.6 billion in net outflows this week, up from $3.9 billion last week. Commodity funds suffered $1.5 billion in net outflows this week (up from $1.1 billion), alternatives funds suffered $458 million in net outflows (down from $617 million), and mixed-assets funds suffered $328 million in net outflows (down from $353 million).

Equity ETFs suffered $3.5 billion in net outflows this week. It was their first week of outflows in 15 weeks, down from $6.4 billion in net inflows last week.

Domestic equity ETFs suffered $3.6 billion in net outflows this week, also their first week of outflows in 15 weeks. Yet non-domestic equity ETFs brought in $105 million in net inflows, their third week of outflows in a row.

This week's biggest equity ETF winner was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $2.4 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $6.2 billion in net outflows this week. It was their 100th week of outflows in a row, down from $10.3 billion last week.

Conventional domestic equity funds suffered $5.2 billion in net outflows this week, their 101st week of outflows in a row. And conventional non-domestic equity funds suffered $1 billion in net outflows this week, their 44th week of outflows in a row.

Mixed-assets ETFs brought in $28 million in net inflows this week. Yet conventional mixed-assets funds suffered $356 million in net outflows.

Alts ETFs suffered $667 million in net outflows this week. Yet alts in conventional mutual fund form brought in $209 million in net inflows.

Commodity ETFs suffered $1.4 billion in net outflows this week. And conventional commodity funds suffered $42 million in net outflows.

Taxable fixed income funds brought in $4.7 billion in net inflows this week. It was their third week of inflows in a row, down from $5.7 billion last week.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). The fund brought in $3.5 billion in net inflows.

Conventional taxable fixed income funds brought in $768 million in net inflows this week. That's up from $78 million in net outflows last week.

Municipal bond ETFs suffered $939 million in net outflows this week. It was their second week of outflows in a row, up from $203 million.

This week's biggest muni bond ETF winner was the Invesco National AMT-Free Municipal Bond ETF (PZA). The fund brought in $79 million in net inflows last week.

Conventional muni bond funds brought in $978 million in net inflows this week. It was their first week of inflows in 23 weeks, up from $354 million in net outflows last week.

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