Money Markets Received More Than $50 Billion Last Week From Investors

For the second consecutive week, financial participants were overall net buyers of fund assets for the week ending on March 2nd, for the second week in a row. Money market funds were the largest investors, injecting a total of $38.8B worth of capital into the market.

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There was a $55 billion increase in weekly inflows for money market funds, which were the only class to take in new money each week. A total of $13.5B was retracted by equity funds, while $1.7B was lost by bond funds, and $905M was retracted by tax-exempt bond funds.

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Two of the five largest equity-focused ETFs on the market, and two of the top five ETFs in terms of market capitalization, saw $7.6B exits the door during the period. SPY (NYSEARCA: SPY) and QQQ (NASDAQ: QQQ) lost $2.3 billion and $1.3 billion, respectively, for the week.

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

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Changing gears to fixed-income ETFs, investors are likely to have noticed that the space has been experiencing a net influx of $1.7 billion per week. Among the top performers were shares of iShares: Bloomberg 1-3 Month T-Bill ETF (BIL) and iShares: Short Treasury Bond ETF (SHV). BIL pulled in $1.6B and SHV garnered $1.3B.

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There was also a large outflow of money from the SPDR Preferred Intermediate-Term Treasury ETF (SPTI) as the fund lost $779 Million during the week. After SPTI's performance, SPDR Preferred Long-Term Treasury ETF (NYSEARCA: SPTL) took back $603 million, following behind SPTI's performance.

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The data has been taken from the most recent Refinitiv Lipper fund-flows report, which was released on Monday.

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To start the new trading week off on a positive note, major averages ticked higher in broader market news.

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