SHV - Investors inject more than $50B into money markets last week

2023-03-06 09:41:46 ET

For the second week in three financial participants were overall net buyers of fund assets for the week that ended on March 2nd. In total the investment community injected $38.8B worth of capital and were led by money market funds.

Money market funds attracted $55B and were the only class to take in new weekly money. Equity funds retracted $13.5B, taxable bond funds lost $1.7B, and tax-exempt bond funds took back $905M.

Equity focused ETFs noticed that $7.6B exited the door with two of the five largest ETFs on the market leading the way. For the week, the SPDR S&P 500 ETF ( NYSEARCA: SPY ) lost $2.3B and the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) lost $1.3B.

At the same time the two equity funds that attracted the most significant capital included the JPMorgan: Equity Premium Income ( NYSEARCA: JEPI ) as it brought in $511M and the JPMorgan: Beta Builders Europe ( BBEU ) which attracted $424.

Switching gears to fixed income ETFs and investors will have noticed the space detected a net $1.7B weekly influx of cash. At the top of the leaderboard included shares of the iShares: Bloomberg 1-3 Month T-Bill ETF ( BIL ) and the iShares: Short Treasury Bond ETF ( SHV ). BIL pulled in $1.6B and SHV garnered $1.3B.

In reverse the SPDR Preferred Intermediate-Term Treasury ETF ( SPTI ) experienced the greatest weekly outflow as the fund lost $779M. Following behind SPTI was the SPDR Preferred Long-Term Treasury ETF ( NYSEARCA: SPTL ) which took back $603M.

All data is per the latest Refinitiv Lipper fund-flows weekly report.

In broader market news, major averages ticked higher to start the trading week.

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