US loan funds reported a net outflow of roughly $1.9 billion for the week ended Sept. 28, according to data from Lipper. This is the largest outflow since the week ended June 15, when $2 billion exited the market, and extends the current negative streak to six weeks, totaling roughly $6.9 billion over that span.
This also marks the third straight week of increasing outflows and builds on the $1.2 billion lost last week and $954 million lost the week prior. As a result, the four-week trailing average moved to negative $1.2 billion, from negative $1 billion. Losses were mostly concentrated in mutual funds, with a $1.07 billion outflow, while $842.3 million was drawn from ETFs. And the change due to market conditions showed a decline of $1.4 billion, versus last week's loss of $543.4 million.
In the year to date, the net inflow dwindled to $1.4 billion, from $3.33 billion last week. Total assets at US loan funds stand at roughly $83.2 billion, their lowest level of the year. Of that, $15.5 billion are in ETFs, also a 2022 low, representing around 19% of the total.
This article originally appeared on PitchBook News