Funds see more redemptions than inflows for second straight week: Refinitiv Lipper

  • For the second straight week, investors were overall net redeemers of fund assets, pulling $10.2B during Refinitiv Lipper's fund flows week ended Aug. 19.
  • Fund investors were net purchasers of taxable income funds (+$5.9B) and municipal bond funds (+1.8B), while being net redeemers of equity funds (-$6.6B) and money market funds (-$11.4B) last week.
  • Equity ETFs experienced net outflows for the second week in three, losing $1.5B for the most recent fund flows week. For the first week in three, nondomestic equity ETFs saw net inflows, taking in $907M.
  • The equity ETFs achieving the highest inflows were iShares Core MSCI EAFE ETF (BATS:IEFA), + $1.6B, and Utilities Select Sector SPDR ETF (NYSEARCA:XLU), +380M; SPDR S&P 500 ETF (NYSEARCA:SPY) had the largest individual net redemptions, -$2.4B, and iShares Russell 1000 Growth ETF (NYSEARCA:IWF) saw the second-largest net redemptions, -$676M.
  • For the first week in 21, taxable fixed income ETFs saw outflows, giving back $1.6B in the week ended Aug. 19. Authorized participants were net redeemers of corporate high-yield ETFS (-$1.2B) and corporate investment-grade debt ETFs (-$836M), while being net purchasers of flexible ETFs (+240M) and international & global debt ETFs (+$171M).
  • For fixed-income ETFs, iShares TIPS Bond ETFs (NYSEARCA:TIP) took in the most net new money, $340M, followed by Xtrackers USD High Yield Corporate Bond ETF (NYSEARCA:HYLB), at $230M; seeing the biggest outflows were iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG), -$1.2B, and iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD), -$802M.
  • Municipal bond ETFs had net inflows (+$88M) for the 16th week in a row.

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