MutualFundWire.com: Weekly Net Flows Take a $42B Hit

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Friday, September 30, 2022

Weekly Net Flows Take a $42B Hit

Net industry fund flows worsened by $42.1 billion this week, as the flows picture soured across a host of categories, according to the latest data from LSEG's Refinitiv Lipper team.

Jack Fischer
Refinitiv Lipper
Senior Research Analyst

In the U.S. Weekly FundFlows Insight report for the week ending September 28, 2022 (i.e. Wednesday), Jack Fischer, senior research analyst at Refinitiv Lipper, reveals that $23.2 billion net flowed out of mutual funds and ETFs in the U.S. this week. That's the industry's fourth week of outflows in five weeks, down from $18.9 billion in net inflows last week. Long-term (i.e. non-money market) funds and ETFs suffered $30.4 billion in net outflows this week, up from $11.1 billion.

Money market funds brougth in $7.2 billion in net inflows this week, down from $30 billion last week. On the flip side, taxable bond funds suffered $14.9 billion in net outflows this week (up from $6.8 billion), equity funds suffered $11.8 billion in net outflows (up from $2.3 billion), and tax-exempt bond funds suffered $3.6 billion in net outflows (up from $2 billion).

Equity ETFs suffered $1 billion in net outflows this week. It was their fourth week of outflows in five weeks, down from $1.1 billion in net outflows last week. This week's biggest equity ETF winner was BlackRock's iShares: Core S&P Total US Market ETF (ITOT), with $1.7 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $10.7 billion in net outflows this week. It was their 34th week of outflows in a row, up from $3.3 billion last week.

Fixed income ETFs suffered $2.8 billion in net outflows this week. It was their second week of outflows in a row, up from $499 million last week. This week's biggest taxable fixed income ETF winner was again SSGA's SPDR Bloomberg 1-3 Months T-Bill ETF (BIL), with $2.3 billion in net inflows (up from $897 million last week).

Municipal bond ETFs suffered $296 million in net outflows this week. It was their eighth week of outflows in a row, up from $9 million last week.

Conventional taxable fixed income funds suffered $12.1 billion in net outflows this week. It was their sixth week of outflows in a row and their largest weekly outflows since April 2020, up from $6.3 billion last week.

Conventional muni bond funds suffered $3.3 billion in net outflows this week. It was their seventh week of outflows in eight weeks, up from $2 billion last week. And, Fischer notes, conventional muni bond funds have still only had five weeks of net inflows so far in 2022.

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