![]() Meanwhile, balanced funds (-$410 million) and flexible funds (-$294 million) witnessed the largest net redemptions. On the conventional fund side, the government mortgage funds macro-group attracted the largest sum of net new money, taking in $214 million, followed by government-Treasury & mortgage funds (+$131 million). For the fund flows week, conventional taxable bond funds witnessed $1.0 billion in net redemptions, while their ETF counterparts attracted $4.9 billion. Not surprising, given the timing of the announcements, we saw most of the defensive moves realized in ETF offerings over the more long-term focus of conventional mutual funds. Treasury Funds (+$2.4 billion) were the primary draw of net new money, followed by Core Bond Funds (+$1.1 billion), Core-Plus Bond Funds (+$760 million), and General U.S. From a classification perspective, Short U.S. ![]() Fund investors were net purchasers of taxable bond funds (+$3.9 billion) while being net redeemers of money market funds (-$2.0 billion), equity funds (-$735 million), and tax-exempt fixed income funds (-$308 million).įor the week, the primary attractor of investors’ assets in the taxable bond fund and ETF space was the government-Treasury funds macro-group, which took in a net $3.2 billion, followed by the corporate investment-grade debt funds (+$717 million) macro-group. We now know these measures were not successful and ended with the bank being shut down by California regulators and in receivership under the Federal Deposit Insurance Corporation (FDIC).įor the fund flows week, investors were net purchasers of fund assets (including those of conventional funds and ETFs) for the second week in a row, but they injected only a net $853 million for the flows week. The bank sold $21 billion of its most liquid investments, borrowed $15 billion, and organized an emergency sale of its stock to raise cash. In addition, by the end of the flows week, investors were already confronted with nascent liquidity concerns for Silicon Valley Bank ( SIVB) on Wednesday after SVB announced that it had taken extraordinary measures to shore up its balance sheets. The two-year Treasury yield closed above the 5% mark for the first time since June 18, 2007, on Tuesday, and the two- and 10-year Treasury yield spread widened to negative 103 bps - the deepest inversion since Octo(according to Dow Jones Market Data). PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.Fund investors generally took risk off their portfolios for the Refinitiv Lipper fund flows week ended March 8, 2023, as they awaited the release of February’s nonfarm payrolls report due out at the end of the week and began dissecting news coming from Federal Reserve Board Chair Jerome Powell’s semi-annual testimony before Congress, a report of better-than-expected first-time jobless claims, and rising Treasury rates. ![]() ETF.com MAKES NO REPRESENTATIONS ABOUT THE SUITABILITY OF THE INFORMATION, PRODUCTS OR SERVICES CONTAINED HEREIN. ![]() You should not use such information for purposes of any actual transaction without consulting an investment or tax professional.ĮTF.com DOES NOT TAKE RESPONSIBILITY FOR YOUR INVESTMENT OR OTHER ACTIONS NOR SHALL ETF.com HAVE ANY LIABILITY, CONTINGENT OR OTHERWISE, FOR THE ACCURACY, COMPLETENESS, TIMELINESS, OR CORRECT SEQUENCING OF ANY INFORMATION PROVIDED BY ETF.com OR FOR ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE UPON SUCH INFORMATION OR ETF.com. A reference to a particular investment or security, a credit rating, or any observation concerning a security or investment provided in the ETF.com Service is not a recommendation to buy, sell, or hold such investment or security or to make any other investment decisions. The data and information contained herein is not intended to be investment or tax advice. ![]()
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