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Lipper Weekly U.S. Fund Flows Video Series - January 9, 2013

Published on 11 Jan 2013, by Tom Roseen
During the first full week of fund flows for the new year, investors were net purchasers of fund assets to the tune of $34.2 billion. Equity funds, including exchange-traded funds (ETFs), took in a whopping $18.3 billion for the week ended Wednesday, January 9, 2013, their fourth largest net inflows since Lipper began calculating weekly flows in January 1992. Tom discusses the flows trends for the industry in this podcast.

Lipper Weekly U.S. Fund Flows Video Series - January 2, 2013

Published on 04 Jan 2013, by Jeff Tjornehoj
Jeff Tjornehoj discusses the flows among mutual funds and ETFs during the last week of December 2012.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES - DECEMBER 12, 2012

Published on 14 Dec 2012, by Matthew Lemieux
It’s one week closer to the end of the year, and the prevailing focus of the market continues to be on Washington’s inability to come to some type of agreement on the looming “fiscal cliff” issue. With what seem to be hourly news conferences and pundit speculation, the markets have generally moved toward a consensus that a compromise will be made. That, combined with better-than-expected unemployment numbers, led to the markets ending the Wednesday-to-Wednesday week up more than 1.3%. Fund investors also seemed to see things positively; they injected $12.7 billion into mutual funds and exchange-traded funds (ETFs) for the week.

Lipper Weekly U.S. Fund Flows Video Series - December 5, 2012

Published on 07 Dec 2012, by Jeff Tjornehoj
Jeff Tjornehoj, Lipper's Head of Americas Research, discusses flows activity for the first week of December.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES - NOVEMBER 28, 2012

Published on 30 Nov 2012, by Tom Roseen
In this podcast, Tom talks about this week's mutual fund and ETF flows trends. Despite a shortened trading day on the Friday after Thanksgiving, US stocks rallied on better-than-expected economic news from Germany and China and on preliminary news that shoppers did indeed head to the retail stores on Black Friday. During the week ended Wednesday, November 28, the market suffered from a little bipolar behavior: the Dow Jones Industrial Average witnessed its best Friday-to-Friday weekly performance since the week ended June 8, 2012, rising 3.35%, only to decline 1.01% on the first two trading days of the new week on fears the debt talks had stalled. This was despite investors’ learning of better-than-expected durable goods orders and the sixth consecutive month of increasing home prices in September. However, on Wednesday markets rallied once again after comments by President Obama and Speaker of the House John Boehner suggested a budget deal hopefully would be reached before Christmas. Despite the rollercoaster ride, for the week fund investors injected a net $21.1 billion into the funds business (including open-end funds and ETFs), allocating net new money into all of Lipper's major macro-classifications, with money market funds attracting the lion's share (+$11.4 billion). For the first week in three equity funds witnessed net inflows (+$7.4 billion, erasing the previous week's outflows), while taxable bond funds (+$1.8 billion) attracted inflows for the twentieth week in twenty-one. For the fourth consecutive week municipal bond funds attracted net new money (+$0.5 billion).

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES - NOVEMBER 21, 2012

Published on 26 Nov 2012, by Matthew Lemieux
For the week ended Wednesday, November 21, mutual fund and exchange-traded fund (ETF) investors still seemed cautious; they injected roughly $15.8 billion in net new cash for the week, with $20.5 billion net going to money market accounts. Equity products seemed immune to the market rebound; they experienced nearly $7.3 billion in net redemptions for the week—for the largest weekly outflow since July of this year. Results for taxable bond funds (+$671 million) were very similar to those of the previous week. Investors continued to shed risk as corporate high-yield funds reported net outflows of $1.1 billion; corporate investment-grade, with $1.1 billion in net sales, nearly offset the redemptions. Investors also sought refuge in U.S. Treasury funds, injecting $408 million—for the group’s third consecutive week of net inflows. Concerns over increases in investment income tax rates pushed investors to seek exposure in the tax-exempt products; the group pulled in $1.1 billion.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES - NOVEMBER 7, 2012

Published on 09 Nov 2012, by Tom Roseen
During the week ended Wednesday, November 7, the Dow Jones Industrial Average suffered its worst one-day decline of the year--312.95 points--on the day after President Barack Obama secured a second term. With the presidential election over, investors began to contemplate the real possibility that the U.S. could plunge over the proverbial "fiscal cliff" if the government remains gridlocked. For the week investors were reluctant to make any major moves ahead of the election, even after U.S. consumer confidence improved in October, China's PMI survey pointed to an ongoing recovery, the ISM Manufacturing Index inched up in October, and October nonfarm payrolls increased a better-than-expected 171,000. Despite poor market returns for the week, fund investors injected almost $43.0 billion net into the funds business (including open-end funds and ETFs), allocating net new money into all of the major macro-classifications. Ahead of the election results investors padded the coffers of money market funds, depositing a net $31.1 billion, which erased the $23.5-billion outflows seen the prior week. For the first week in four equity funds witnessed net inflows (+$4.9 billion), while taxable bond funds (+$6.1 billion) attracted inflows for the seventeenth week in eighteen, and for the second consecutive week municipal bond funds (+$0.9 billion) attracted net new money.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES - OCTOBER 31, 2012

Published on 02 Nov 2012, by Matthew Lemieux
To say we had a wild ending for October would be a gross understatement as the East Coast of the U.S. prepared for and endured one of the most powerful storms in that area’s history. Adversely affecting the coastline from North Carolina to Massachusetts, “Super Storm” Sandy dealt a blow to America’s financial hub, closing U.S. markets for two consecutive days—an event not seen since 1888. With some operations running on backup power, the stock exchanges were able to reopen on Wednesday, handling the higher average volume but ending the session slightly down. With only three trading days to work with, investors’ action in mutual funds and ETFs (excluding money market funds) was relatively flat, posting net outflows of $754 million. Despite the equity markets’ posting their first monthly loss since May, stock ETFs continued to garner assets with net inflows of $1.3 billion—breaking a two-week losing streak. On the other side of the coin equity mutual fund investors continued to look for the door, pulling roughly $1.4 billion from their accounts. Once again the majority of assets came out of U.S. Diversified Equity products. As a bit of a surprise, taxable bond funds posted their first net outflow in 17 weeks and for only the fourth time this year. Corporate investment-grade products were able to attract net inflows of $291 million, while investors turned their back on high-yield funds—$619 million in net outflows. Municipals also seemed to suffer from the shortened week; they reported net redemptions of $123 million, breaking their 28-week inflow streak. Money market funds, with $23.5 billion in net outflows, saw the most action among the asset groups—their largest since August 2011. And with $24.6 billion coming from institutional accounts, much of the move may have been attributed to quarter-end tax deadlines.

Lipper Weekly U.S. Fund Flows Video Series - October 24, 2012

Published on 26 Oct 2012, by Jeff Tjornehoj
A rough start to earnings season turned away equity fund investors this past week. Following the previous week’s first positive fund flows in nine weeks, equity fund investors pulled the plug on more additions and instead withdrew $200 million from their accounts for the week ended October 24, 2012. Domestic equity funds bore the brunt of the outflows with $806 million withdrawn, while nondomestic equity funds took in $605 million. Taxable bond funds had one of their better weeks this year, seizing about $3.6 billion. Investors continued to downshift their purchases of junk bond funds; the High Yield group posted inflows of just $86 million, while core-investment choice Corporate Investment-Grade Funds saw inflows of $1.3 billion and weak-dollar play International & Global Debt funds had inflows of about $370 million. Tax-exempt funds had inflows of about $576 million, while money market funds saw outflows of about $3.2 billion.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES - OCTOBER 17, 2012

Published on 19 Oct 2012, by Tom Roseen
Tom talks about this week's mutual fund and ETF flows trends. Shrugging off relatively strong equity returns toward Wednesday's close, fund investors remained less risk seeking injecting $10.6 billion into money market funds out of the $13.1 billion of net inflows into the funds business (including open-end funds and ETFs). For the second week in three equity funds suffered net outflows, witnessing $2.6 billion in net redemptions, while money market funds (+$10.6 billion), taxable bond funds (+$4.5 billion), and municipal bond funds (+$0.6 billion) continued to attract net new money.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES - OCTOBER 10, 2012

Published on 12 Oct 2012, by Matthew Lemieux
U.S. equity markets continued to see-saw as the initial optimism over the central bank announcements quickly lost momentum. For the week ended Wednesday all of the major U.S. indices were in the red by more than a percentage point, with the technology sector taking the brunt of the losses; the NASDAQ ended the period down 2.7%. Surprisingly, the dip in the markets did not seem to have a large impact on fund investors. Looking at the corresponding flows for the week, mutual funds and ETFs reported net inflows of $3.7 billion, with investors continuing to place the majority of new cash into taxable bond products (+$2.3 billion). The equity group was once again mixed; stock mutual funds posted net outflows of $1.1 billion, while their ETF counterparts continued to garner assets of $2.1 billion net. Interest in municipal debt funds jumped as investors injected $915 million into the group—their largest weekly net inflow since mid-August. Money market fund flows were relatively flat, ending the week with net redemptions of $506 million.

Lipper Weekly U.S. Fund Flows Video Series - October 3, 2012

Published on 05 Oct 2012, by Jeff Tjornehoj
The bumpy end to the third-quarter seems to have taken a toll on investors’ willingness to own equity mutual funds, as withdrawals from these investments totaled $2.4 billion during the week ended October 3, 2012. That’s the eighth week in a row in which investors have withdrawn assets from equity mutual funds, with U.S. stock funds bearing the brunt of those outflows. Net redemptions in that category hit $2.6 billion during the period, with even Lipper’s Equity Income Funds group – which has tended to remain appealing to investors – reporting outflows for the week, even though that figure was a meager $500,000 or so. In some recent weeks, equity ETFs have continued to see inflows even as mutual funds have recorded net redemptions. This week, that pattern changed. After injecting a net $27.8 billion into ETFs over the previous three weeks, ETF investors switched gears, withdrawing $440 million from these investments in the period ended October 3. Once more, safety seemed to be back in favor. Taxable bond funds reported inflows of $2.4 billion during the period, while the riskier high-yield bond funds witnessed net redemptions of about $400 million on top of a loss of $500 million in assets in the prior week Investors found international and global funds more appealing; that group attracted some $470 million during the period. Tax-exempt municipal bond funds also saw their coffers swell, reporting inflows of about $550 million, extending their streak of uninterrupted inflows to 27 weeks.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES – SEPTEMBER 26, 2012

Published on 28 Sep 2012, by Tom Roseen
For the week ended Wednesday, September 26, the S&P 500 locked in its first five-day losing streak since the middle of July. After an unexpectedly strong equity showing earlier in September (equity funds were up 2.1% month to date through September 26 and 5.12% quarter to date), investors decided to take a little of their hard-won profits off the table during the week. They appeared to be focusing on the demonstrations in Spain and Greece, the dissenting QE3 opinion from nonvoting Federal Reserve member Charles Plosser, continued uncertainties surrounding the upcoming U.S. presidential election, and the looming “fiscal cliff.” These economic and geopolitical concerns outweighed the news that housing appeared to be improving over the last several months, with the S&P/Case-Shiller Composite rising for the fourth month in a row and July housing prices climbing 0.2%. Despite the poor performance, fund investors were net purchasers of fund assets, injecting $9.7 billion into the funds business (including open-end funds and ETFs). For the third consecutive week equity funds witnessed net inflows to the tune of $1.1 billion for the week (significantly muted from the prior two weeks), while money market funds (+$3.9 billion), taxable bond funds (+$4.0 billion), and municipal bond funds (+$0.6 billion) continued on their merry old way–attracting net new money. Tom Roseen discusses Lipper's U.S. Weekly fund flows.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES – SEPTEMBER 19, 2012

Published on 21 Sep 2012, by Matthew Lemieux
With the announcement by the FOMC of its entering another round of easing, equity markets pushed higher; the S&P 500 Index added 1.7% for the week ended September 19. Following suit, mutual funds and ETFs (excluding money market funds) added roughly $16.6 billion to their accounts as investors’ appetite for risk accelerated. Overall, equity products reported net inflows of $11.4 billion for the week. ETFs were once again the focus, adding $13.3 billion net. Despite the sanguine feelings, investors in equity mutual funds (-$1.9 billion) were not convinced; they pulled money out of the asset class for the sixth consecutive week. With the noticeable shift to equity products in general, taxable bond products were no worse for wear; investors injected $4.9 billion net into the group for the week—its eleventh consecutive week of net inflows.

Lipper Weekly U.S. Fund Flows Video Series - September 12, 2012

Published on 14 Sep 2012, by Jeff Tjornehoj
Jeff Tjornehoj talks about his observations on mutual fund and ETF flows.

LIPPER WEEKLY U.S.FUND FLOWS VIDEO SERIES - SEPTEMBER 5, 2012

Published on 07 Sep 2012, by Tom Roseen
Tom Roseen discusses Lipper's U.S. weekly fund flows. For the first week in three equity ETFs suffered net redemptions, handing back some $5.9 billion. Just one fund accounted for the majority of the outflows: SPDR S&P 500 ETF (-$6.0 billion). Excluding ETFs, for the fourth week in a row equity funds witnessed net redemptions (-$0.9 billion) as domestic equity funds suffered just a little under $1.0 billion in net redemptions and nondomestic equity funds took in a little less than $99 million. Investors took their foot off the gas pedal in the risk-on fixed income space, injecting just $60 million into corporate high yield debt funds. However, conventional mutual fund investors, in their continued pursuit of yield, padded the coffers of Lipper’s Corporate Investment-Grade Debt Funds (+$738 million) and Flexible Income Funds (+$262 million) classifications. For the twenty-first consecutive week municipal debt funds (ex-ETFs) experienced net inflows, $0.2 billion this time.

LIPPER WEEKLY U.S.FUND FLOWS VIDEO SERIES - AUGUST 29, 2012

Published on 31 Aug 2012, by Matthew Lemieux
With the dog days of summer upon us many investors focused their attention away from the anemic markets and towards the potential fallout of both hurricane Isaac and the Republican National Convention. But despite this there was some optimistic data released on the current state of the economy. July GDP was revised upwards to 1.7%, home prices continued to strengthen, and consumer spending increased for the first time in three months. Combined with relatively quite news overseas and anticipated action from the Fed, investors injected $5.8 billion into mutual funds and ETFs—excluding money markets.

Lipper Weekly U.S. Fund Flows Video Series - August 22, 2012

Published on 24 Aug 2012, by Jeff Tjornehoj
Equity fund investors were net redeemers for the fourth week in the past five, withdrawing $1.52 billion for the week ended August 22, 2012. Within the style boxes, investors were net sellers of the large- and small-cap value strategies and net buyers of the large- and small-cap growth strategies. Taxable bond funds had $3.15 billion in net sales for the week, bringing their year-to-date total to $162.2 billion—which would be their third highest annual total, with over four months still remaining in the year. Municipal debt funds took in an estimated $450 million for the week, and they are now enjoying their highest AUM ever at nearly $563 billion. Money market funds saw $1.90 billion in net flows in a quiet week for them.

LIPPER WEEKLY U.S.FUND FLOWS VIDEO SERIES - AUGUST 15, 2012

Published on 17 Aug 2012, by Tom Roseen
Despite the sluggishness in the market, investors were net purchasers of fund assets and injected $11.2 billion into the funds business (including open-end funds and ETFs). However, as one might expect given the uncertainty of the equity market, equity funds witnessed $6.3 billion in net redemptions, while money market funds (+$13.5 billion), taxable bond funds (+$3.0 billion), and municipal bond funds (+$1.0 billion) experienced net inflows. For the second consecutive week equity ETFs suffered net redemptions and handed back some $4.4 billion. Just two funds accounted for the majority of outflows: the SPDR S&P 500 ETF (-$3.1 billion) and the iShares Russell 2000 Index (-$1.0 billion). Excluding ETFs, for the third week in four equity funds witnessed net redemptions (-$1.8 billion) as domestic equity funds suffered $2.0 billion in net redemptions and non-domestic equity funds took in a little less than $150 million. Investors’ predilection for dividend paying mutual funds (ex-ETFs) continued, as equity income funds attracted $159 million and real estate funds took in $122 million. Despite declining yields and ignoring the quasi-flight to safety toward week end, open-end fund investors injected $1.2 billion into corporate investment-grade debt funds, $464 million into corporate high-yield debt funds, and $360 million into government/mortgage funds. For the 18th consecutive week, municipal debt funds experienced net inflows, this time for $0.9 billion.Tom Roseen discusses Lipper's U.S. weekly fund flows.

LIPPER WEEKLY U.S.FUND FLOWS VIDEO SERIES - AUGUST 8, 2012

Published on 10 Aug 2012, by Matthew Lemieux
Despite a positive movement in the markets equity mutual funds and ETFs reported net redemptions of $4.1 billion, continuing their roller coaster ride over the past eight weeks. Once again SPDR S&P 500 (SPY) had a heavy influence over the aggregate numbers pushing out roughly $3.9 billion of the total. Equity mutual funds were able to eke out a net inflow of $133 million and although relatively flat it was a large improvement over the roughly $5 billion in net redemptions experienced over the previous two weeks. Taxable bond funds posted their fifth consecutive week of inflows at $5.2 billion as investors continued to allocate cash to both corporate investment grade (+$1.6 billion) and high yield (+$809 million) products. Municipal bond funds also ended the period strongly with net inflows of $1.1 billion—the group’s seventeenth week of consecutive inflows. Money markets ended the week with net sales of $11.9 billion.

Lipper Weekly U.S. Fund Flows Video Series - August 1, 2012

Published on 03 Aug 2012, by Jeff Tjornehoj
Despite a week of performance that included seeing the Dow touch 13,000 for the first time since early May, equity mutual fund investors were sellers, yanking about $3.0 billion from their accounts. Much of the outflows were from their core holdings, large-cap funds, which saw $1.9 billion pulled away. Taxable bond fund investors were net investors but could only muster $1.4 billion this week, down from +$2.6 billion the week before. The top draw was again U.S. Mortgage Funds (+$572 million) of which DoubleLine Total Return Fund accounted for about $519 million in net new money. Like taxable bond fund investors, muni debt fund investors also eased off the accelerator this week and bought up about $480 million in muni funds, down from $750 million a week ago. In the short-term space, money market funds had net withdrawals of $4.4 billion, most of which was due to institutional investor activity.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES – JULY 25, 2012

Published on 27 Jul 2012, by Tom Roseen
Tom Roseen discusses Lipper's U.S. weekly fund flows in the following podcast. For the first week in three, equity funds, excluding ETFs, witnessed net redemptions, losing $2.1 billion, with domestic equity funds suffering $1.9 billion in net redemptions and non-domestic equity funds handing back a little more than $140 million (their first net redemptions in 17 weeks). Dividend paying mutual funds (ex-ETFs) attracted net new money, with equity income funds drawing $233 million and real estate funds taking in $103 million. Despite declining yields and ignoring the quasi-flight to safety toward week end, open-end fund investors injected $1.4 billion into corporate high-yield debt funds and $911 million into corporate investment-grade debt funds. For the fifteenth consecutive week, municipal debt funds experienced net inflows, taking in $0.8 million to their coffers.

LIPPER WEEKLY U.S. FUND FLOWS VIDEO SERIES – JULY 18, 2012

Published on 23 Jul 2012, by Matthew Lemieux
Overall, equity markets faired quite well this week as news over previous concerns in the Eurozone was quite muted and earnings were generally good among the tech giants and most U.S. banks. Investors took this in stride as U.S. markets ended the week up and investors injected roughly $6.1 billion into equity products. Although a large number, most of the inflows were once again attributed to SPDR S&P 500 Index ETF (SPY) which added 2.2 billion to its coffers. Taxable bond funds continue to garner assets as the group added $2.8 billion for the week. Although Corp-High Yield posted inflows of $821 million, most investors remained comfortable allocating cash to higher quality paper with Corp-Investment Grade products reporting net inflows of $1.1 billion. Municipal debt funds also posted net inflows at $837 million while money market accounts gave back $18.7 billion of their previous weeks inflows.

Lipper Weekly U.S. Fund Flows Video Series - July 11, 2012

Published on 13 Jul 2012, by Jeff Tjornehoj
Equity mutual funds pulled in a little money from investors this week, reversing a three week outflow slide; all told, they took in about $450 million. Surprisingly, domestic equity funds accounted for most of the inflow total, about $445 million. Domestic equity ETF investors saw things differently, though, as they pulled a net $2.2 billion from their investments. Taxable bond funds had another solid week of inflows, this time for $3.0 billion; High Yield accounted for over $1.1 billion of the total. Municipal debt funds kept the inflows chugging along with another $670 million going their way. Money market funds had their best week of inflows since early-December 2011 with $22.5 billion added.

Lipper Weekly U.S. Fund Flows Video Series - July 4, 2012

Published on 05 Jul 2012, by Matthew Lemieux
Despite the ever increasing concern over global economic conditions, investors closed the quarter out strongly with all major U.S. equity indices ending June with monthly returns well over 3.5%. Overall, mutual funds and ETFs reported net inflows of $3.2 billion for the week with Equity products garnering an impressive $10.3 billion—their largest weekly gain since September 14, 2011. Unfortunately this action did not seem to be a broad indicator of market sentiment as roughly $7.0 billion was solely attributed to what seems to be large institutional moves into the SPDR S&P 500 ETF (SPY). Taxable Bond funds ended the period with net outflows of just $100 million. Although fixed income mutual funds (+$1.3 billion) continued to keep investors attention, their ETF counterparts suffered net redemptions of $1.4 billion with investors moving out of shorter term treasury products—a possible side effect of both the continuation of Operation Twist as well as initial reports of positive moves toward new policies in the Eurozone. Municipal Bond funds posted their twelfth consecutive week of inflows at $317 million while Money Market products pushed $7.4 billion out their doors.
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