Weekly net inflows into equity funds rose by $12.9 billion in two weeks, 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 March 20, 2024 (i.e. Wednesday), Tom Roseen, head of research at LSEG Lipper, reveals that $49.8 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 four weeks, down from $27.3 billion in net inflows two weeks ago (when the LSEG Lipper issued their most recent prior edition of the report). Long-term (i.e. non-money-market) funds brought in $16.5 billion in net inflows this week, up from $14.2 billion two weeks ago.

Equity funds led the pack, bringing in $15.5 billion in net inflows this week, up from $2.6 billion two weeks ago. Other inflows winners this week included: commodities funds, $1.6 billion in net inflows (up from $1 million in net outflows two weeks ago); and alternatives funds, $138 million in net inflows (up from $108 million two weeks ago).

On the flip side, money market funds defined overall industry flows, thanks to $66.3 billion in net outflows this week, down from $13.1 billion in net inflows two weeks ago. Other outflows sufferers this week included: fixed income funds, $438 million (down from $13.269 billion in net inflows two weeks ago); and mixed-assets funds, $289 million (down from $765 million two weeks ago).

Equity ETFs brought in $19 billion in net inflows this week. It was their fourth week of inflows in a row and their largest week of inflows since December, up from $10.7 billion two weeks ago.

Domestic equity ETFs brought in $16.9 billion in net inflows, their fourth consecutive week of inflows. And non-domestic equity ETFs brought in $2 billion in net inflows, their 13th week of inflows in a row.

This week's biggest equity ETF winner was SSGA's SPDR S&P 500 ETF (SPY). The fund brought in $25.3 billion in net inflows.

Conventional (i.e. non-ETF) equity funds suffered $3.5 billion in net outflows this week. It was their 110th consecutive week of outflows, down from $7 billion two weeks ago.

Conventional domestic equity funds suffered $2.2 billion in net outflows, their 111th week of net outflows in a row. And conventional non-domestic equity funds suffered $1.3 billion in net outflows, their 54th consecutive week of outflows.

Taxable fixed income ETFs suffered $1.6 billion in net outflows. It was their first week of outflows in 13 weeks, down from $5.8 billion in net inflows two weeks ago.

This week's biggest taxable fixed income ETF winner was again BlackRock's iShares Bitcoin Trust (IBIT). (The LSEG Lipper team specifically categorizes this new spot bitcoin ETP, and perhaps others like it, as "alternative currency strategies ETFs.") IBIT brought in $1.6 billion in net inflows this week, down from $2.7 billion two weeks ago.

On the flip side, another spot bitcoin ETP, the Grayscale Bitcoin Trust (GBTC), again topped the outflows list this week. The fund suffered $1.7 billion in net outflows, down from $2.1 billion two weeks ago.

Conventional taxable fixed income funds brought in $1.1 billion in net inflows this week. It was the 12th consecutive week of inflows, up from $500 million two weeks ago.

Municipal bond ETFs suffered $32 million in net outflows this week. It was their first week of outflows in five weeks, down from $118 million in net inflows two weeks ago.

This week's biggest muni bond ETF winner was the Invesco National AMT-Free Municipal Bond ETF (PZA). The fund brought in $14 million in net inflows.

Conventional muni bond funds brought in $96 million in net inflows this week. It was their third week of inflows in a row, down from $752 million two weeks ago.

Commodities ETFs brought in $1.6 billion in net inflows this week. Yet conventional commodities funds suffered $19 million in net outflows.

Mixed-assets ETFs brought in $102 in net inflows this week. Yet conventional mixed-assets funds suffered $391 million in net outflows.

Alts ETFs suffered $34 million in net outflows this week. Yet conventional alts funds brought in $172 million in net inflows. 

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