U.S. Fund investors flip To ETFs And cash Market dollars In November

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buyers were net valued clientele of mutual fund belongings for the first month in three, injecting $102.2 billion into the general fund business (except ETFs, which can be reviewed in the part below). however, the headline number is misleading.

inventory & mixed-property money skilled net outflows for the thirty-second consecutive month (-$sixty eight.9 billion, its largest since December 2022). The fixed income dollars macro-neighborhood—for the fourth month in a row—suffered internet redemptions, handing lower back $17.0 billion. And, in a flight to protection, buyers padded the coffers of money market funds, injecting $188.1 billion for November.

For the nineteenth consecutive month, ETFs attracted net new money, taking in a whopping $a hundred.4 billion for November (their greatest month-to-month net inflows on the grounds that December 2021).

approved individuals (APs—these investors who create and redeem ETF shares) were web purchasers of stock & blended-belongings ETFs—additionally for the nineteenth month in a row—injecting $sixty eight.3 billion into equity ETF coffers. For the twenty-second month running, they were net purchasers of bond ETFs—injecting $32.2 billion for the month (their largest monthly internet inflows considering may additionally 2022). APs have been internet consumers of all five fairness-based ETF macro-classifications, padding the coffers of U.S. different equity ETFs (+$fifty seven.7 billion), Sector equity ETFs (+$four.7 billion), World fairness ETFs (+$four.5 billion), alternate options ETFs (+$1.three billion), and blended-belongings ETFs (+$fifty six million).

in this document, I highlight the November 2023 fund-flows consequences and trends for each ETFs and traditional mutual money (including variable annuity underlying money).