Money funds were the big winners this week as fund industry inflows increased by more than $2 billion, 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 September 6, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $9.6 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the fund industry's second week of inflows in a row, up from $7.5 billion last week. Long-term (i.e. non-money market) funds suffered $8.4 billion in net outflows this week, up week over week from $4.4 billion.

Money market funds brought in $18 billion in net inflows this week, up from $11.9 billion in net inflows last week. On the flip side, equity funds suffered $5.2 billion in net outflows this week (up W/W from $4.4 billion), taxable fixed income funds suffered $2.4 billion in net outflows (up W/W from $217 million), and tax-exempt fixed income funds suffered $798 million in net outflows (down W/W from $408 million in net inflows).

Equity ETFs suffered $1.4 billion in net outflows this week. It was their second week of outflows in three weeks, down W/W from $762 million in net inflows.

Domestic equity ETFs suffered $2 billion in net outflows this week, their second week of outflows in three weeks. Yet non-domestic equity ETFs brought in $596 million in net inflows, their first week of inflows in six weeks.

This week's biggest equity ETF winner was the Invesco Russell 1000 Dynamic Multifactor ETF (OMFL). The fund brought in $1.5 billion in net inflows this week.

Conventional (i.e. non-ETF) equity funds suffered $3.8 billion in net outflows this week. It was their 83rd week of outflows in a row, down W/W from $5.4 billion.

Conventional domestic equity funds suffered $3.6 billion in net outflows this week, their 36th week of outflows in a row. And conventional non-domestic equity funds suffered $1994 million in net outflows, their 29th week of outflows in a row.

Taxable fixed income ETFs suffered $1.1 billion in net outflows this week. It was their first week of outflows in three weeks, down W/W from $2 billion in net inflows.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares TIPS Bond ETF (TIP). The fund brought in $270 million in net inflows.

Municipal bond ETFs suffered $135 million in net outflows this week. It was their third week of outflows in four weeks, down W/W from $760 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 $126 million in net inflows this week.

Conventional taxable fixed income funds suffered $1.3 billion in net outflows this week. It was their fourth week of outflows in a row, down W/W from $2.2 billion.

Conventional muni bond funds suffered $663 million in net outflows this week. It was their sixth week of outflows in a row, up W/W from $352 million. 

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