Long-term funds' net flows improved by $37.7 billion this week, even as money fund flows soured, 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 June 14, 2023 (i.e. Wednesday), Tom Roseen, head of research services at LSEG Lipper, reveals that $19.2 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's second week of inflows in a row, down from $22.4 billion last week. Long-term funds (i.e. non-money market funds) brought in $26 billion in net inflows this week, up from $11.7 billion in net outflows.

Equity funds dominated this week, bringing in $19.9 billion in net inflows, up from $16.2 billion in net outflows last week. And taxable fixed income funds brought in $6.4 billion in net inflows this week, up from $4 billion.

On the flip side, money market funds suffered $6.8 billion in net outflows this week. It was their first week of outflows in eight weeks, down from $34.1 billion in net inflows last week. And tax-exempt fixed income funds suffered $257 million in net outflows this week, down from $460 million in net inflows.

Equity ETFs brought in $25.2 billion in net inflows this week. It was their third week of inflows in four weeks and their largest weekly inflows since February 2021, up from $8.8 billion in net outflows last week.

Domestic equity ETFs brought in $18.2 billion in net inflows this week, their third week of inflows in four weeks. And non-domestic equity ETFs brought in $7 billion in net inflows this week, their fifth week of inflows in six weeks.

This week's biggest equity ETF winner, for the second week in a row, was BlackRock's iShares Russell 2000 ETF (IWM). The fund brought in $2.5 billion in net inflows this week, up from $1.9 billion last week.

Conventional (i.e. non-ETF) equity funds suffered $5.3 billion in net outflows this week. It was their 71st week of outflows in a row, down from $7.3 billion last week.

Conventional domestic equity funds suffered $4.6 billion in net outflows this week, their 24th week of outflows in a row. And conventional non-domestic equity funds suffered $682 million in net outflows this week, their 17th week of outflows in a row.

Taxable fixed income ETFs brought in $4.4 billion in net inflows this week. It was their second week of inflows in a row.

This week's biggest taxable fixed income ETF winner was BlackRock's iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). The fund brought in $950 million in net inflows this week.

Municipal bond ETFs suffered $89 million in net outflows this week. It was their second week of outflows in a row, down from $132 million last week.

This week's biggest muni bond ETF winner was SSGA's SPDR Nuveen Bloomberg Municipal Bond ETF (TFI). The fund brought in $64 million in net inflows this week.

Conventional taxable fixed income funds brought in $2 billion in net inflows this week. It was their second week of inflows in a row, down from $3.8 billion last week.

Conventional muni bond funds suffered $168 million in net outflows this week. It was their 16th week of outflows in 17 weeks, down from $592 million in net inflows last week. 

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