MutualFundWire.com: Long-Term Outflows Septuple to $36B

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Friday, June 17, 2022

Long-Term Outflows Septuple to $36B

Outflows spiked across the board this week, with no categories immune to the pain, according to the latest data from the Lipper team at Refinitiv.

Tom Roseen
Refinitiv Lipper
Head of Research Services

In the U.S. Weekly FundFlows Insight report for the week ending June 15, 2022 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $45.2 billion net flowed out of mutual funds and ETFs in the U.S. this week. That's the industry's first week of outflows in three weeks, down from $19.2 billion in net inflows last week. Long-term funds and ETFs suffered $36.4 billion in net outflows this week, up from $5.1 billion.

Equity funds led the way this week, with $16.2 billion in net outflows, up from $274 million last week. Money funds suffered $8.8 billion in net outflows (down from $24.3 billion in net inflows), taxable bond funds suffered $14.6 billion in net outflows (their fourth largest outflows on record, up from $2.8 billion), and tax-exempt bond funds suffered $5.6 billion in net outflows (their third largest outflows on record, up from $2.1 billion).

Equity ETFs suffered $8.5 billion in net outflows this week, their first week of outflows in seven weeks, down from $4.8 billion in net inflows. The biggest equity ETF winner this week was BlackRock's iShares Russell 2000 ETF (IWM) with $2.7 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $7.8 billion in net outflows this week, their 19th week of outflows in a row, up from $4.8 billion last week. Conventional domestic equity funds suffered $3.8 billion in net outflows, their 19th week of outflows in a row. And conventional nondomestic equity funds suffered $4 billion in net outflows, their tenth week of outflows in a row.

On the fixed income side, taxable fixed income ETFs suffered $3.9 billion in net outflows this week, their first week of outflows in nine weeks. The biggest taxable fixed income ETF winner was SSGA's SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) with $2.4 billion in net inflows.

Conventional taxable bond funds suffered $10.7 billion in net outflows this week. That's their 21st week of outflows in a row and their fifth highest weekly outflows ever.

Municipal bond ETFs suffered $1 billion in net outflows this week, their second week in a row of outflows. The biggest muni bond ETF winner was the Invesco California AMT-Free Muni Bond ETF (PWZ) with $56 million in net inflows.

Conventional muni bond funds suffered $4.6 billion in net outflows this week. That's their fifth week of outflows in a row and their third highest weekly outflows ever.

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