Net industry money fund outflows returned this week, even as stock fund outflows more than quintupled, 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 August 23, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $16.7 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 $31.3 billion in net inflows last week. Long-term (i.e. non-money market) funds suffered $13.4 billion in net outflows this week, up from $4.5 billion.

No big fund categories were spared this week, and equity funds were the biggest sufferers, with $11.2 billion in net outflows, up from $2 billion last week. Money funds suffered $3.3 billion in net outflows this week (down from $35.8 billion in net inflows), taxable fixed income funds suffered $1.7 billion in net outflows this week (down from $2.3 billion), and tax-exempt fixed income funds suffered $534 million in net outflows this week (up from $264 million).

Equity ETFs suffered $7.8 billion in net outflows this week. It was their second week of outflows in three weeks, down from $2.5 billion in net inflows last week.

Domestic equity ETFs suffered $7.7 billion in net outflows this week, their second week of outflows in three weeks. And non-domestic equity ETFs suffered $169 million in net outflows this week, their fourth week of outflows in a row.

This week's biggest equity ETF winner was BlackRock's iShares MSCI USA Quality Factor ETF (QUAL). The fund brought in $568 million in net inflows this week.

Conventional (i.e. non-ETF) equity funds suffered $3.4 billion in net outflows this week. It was their 81st week of outflows in a row, down from $4.5 billion last week.

Conventional domestic equity funds suffered $2.8 billion in net outflows this week, their 34th week of outflows in a row. And conventional non-domestic equity funds suffered $594 million in net outflows, their 27th week of outflows in a row.

Taxable fixed income ETFs brought in $333 million in net inflows this week. It was their second week of inflows in three weeks, up from $2.2 billion in net outflows last week.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares iBoxx $ High Yield Corporate Bond ETF (HYG). The fund brought in $954 million in net inflows this week.

Municipal bond ETFs suffered $105 million in net outflows this week. It was their second week of outflows in a row, up from $63 million last week.

This week's biggest muni bond ETF winner was the JPMorgan Ultra-Short Municipal Income ETF (JMST). The fund brought in $43 million in net inflows this week.

Conventional taxable fixed income funds suffered $2 billion in net outflows this week. It was their second week of outflows in a row, up from $32 million last week.

Conventional muni bond funds suffered $429 million in net outflows this week. It was their fourth week of outflows in a row, up from $201 million last week. 

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