Jefferies' weekly flows report shows a pronounced move out of money market instruments, with US asset managers recording $156 billion of outflows in the week ended April 15. In the prior week, money markets had seen $3 billion of inflows, making this most recent reading a sharp reversal.
Excluding money market activity, retail channels still delivered net positive flows of $29.1 billion, though that figure declined from $33.2 billion in the previous week. Within that retail mix, mutual funds (outside of money market funds) registered net redemptions of $9.5 billion, a deterioration versus the $3.2 billion of outflows logged one week earlier. By contrast, exchange-traded funds continued to capture investor interest, taking in $38.7 billion of new money compared with $36.4 billion the week before.
The equity sleeve showed mixed patterns across vehicles. US equity mutual funds saw $5.7 billion leave, worsening from $3.0 billion of outflows in the prior week. Meanwhile, US equity ETFs posted strong inflows of $29.9 billion, up from $20.1 billion the previous week.
International equity allocations also diverged by vehicle. International equity mutual funds recorded $1.2 billion of outflows, a rise from $700 million in the prior week. International equity ETFs extended a long-running inflow streak, marking the 53rd consecutive week of net inflows at $6.5 billion, higher than the $4.4 billion reported the week before.
Fixed income flows reflected similar contrasts between mutual funds and ETFs. Taxable bond mutual funds reversed course to post $1.8 billion of outflows, after seeing $2.0 billion of inflows in the previous week. Municipal bond mutual funds registered $400 million of outflows, an improvement relative to $600 million of outflows a week earlier.
On the ETF side, taxable bond funds continued to attract money for the 54th consecutive week, bringing in $4.3 billion, though that was below the $10.5 billion they took in the prior week. Municipal bond ETFs showed relatively flat flows in the latest week compared with $1.4 billion of inflows reported previously.
Contextual note - These figures are drawn from Jefferies' weekly asset flows compilation and reflect net retail and institutional activity across major vehicle types for the week ended April 15.