MutualFundWire.com: A One-Week, $92.8B Flows Collapse
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Friday, April 21, 2023

A One-Week, $92.8B Flows Collapse


Net flows in one fund category fell by $92.8 billion this week, though a classic ETF had a good week, according to the latest data from LSEG's Refinitiv Lipper team.

Tom Roseen
 Refinitiv Lipper
Head of Research Services
In the U.S. Weekly FundFlows Insight report for the week ending April 19, 2023 (i.e. Wednesday), Tom Roseen, head of research services at Refinitiv Lipper, reveals that $69.7 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 eight weeks, down from $28.1 billion in net inflows last week. Long-term (i.e. non-money market) funds suffered $2.3 billion in net outflows this week, down from $2.7 billion in net inflows.

Money market funds dominated flows this week, suffering $67.4 billion in net outflows, down from $25.4 billion in net inflows last week. Tax-exempt fixed income funds suffered $2.9 billion in net outflows this week (up from $256 million), and equity funds suffered $856 million in net outflows (down from $53 million in net inflows).

On the flip side, taxable fixed income funds brought in $1.4 billion in net inflows this week. That's down from $2.9 billion last week.

Equity ETFs brought in $4.1 billion in net inflows this week. It was their second week of inflows in a row, down from $5.3 billion last week.

Domestic equity ETFs brought in $2.8 billion in net inflows this week, their second week of inflows in a row. And non-domestic equity ETFs brought in $1.4 billion in net inflows this week, their third week of inflows in a row.

This week's biggest equity ETF winner, for the second week in a row, was SSGA's SPDR S&P 500 ETF (SPY), with $2.4 billion in net inflows. (That's up from $1.3 billion last week.)

Conventional (i.e. non-ETF) equity funds suffered $5 billion in net outflows this week. It was their 63rd week of outflows in a row, down from $5.2 billion last week.

Conventional domestic equity funds suffered $2.5 billion in net outflows this week, their 16th week of outflows in a row. And conventional non-domestic equity funds suffered $2.5 billion in net outflows, their ninth week of outflows in a row.

Taxable fixed income ETFs brought in $2.6 billion in net inflows. It was their ninth week of inflows in a row.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares iBoxx $ High Yield Corporate Bond ETF (HYG), with $1.5 billion in net inflows.

Municipal bond ETFs suffered $630 million in net outflows this week. It was their second week of outflows in a row, up from $136 million last week.

This week's biggest muni bond ETF winner was the iShares California Muni Bond ETF (CMF), with $14 million in net inflows.

Conventional taxable fixed income funds suffered $1.2 billion in net outflows this week. It was their ninth week of outflows in a row, up from $418 million last week.

Conventional muni bond funds suffered $2.2 billion in net outflows this week. It was their ninth week of outflows in a row, up from $220 million last week.


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