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October 20, 2023

LSEG Lipper U.S. Mutual Funds & ETPs Q3 2023 Snapshot: Conventional Fund and ETP Assets Under Management Decline in Q3 by a Combined $678 Billion

by Tom Roseen.

In this issue of LSEG Lipper’s U.S. Mutual Funds & Exchange-Traded Products Snapshot, we feature a summary of total net assets (TNA), estimated net flows, new fund creations, and fund liquidations for conventional funds and exchange-traded products (ETPs) for Q3 2023 and the one-year period.

We compare the changes to those of prior quarters and highlight the largest individual gainers and losers of both groups. The Snapshot provides readers with a powerful, easy-to-use guide and quick reference tool to help them discern fund trends during the quarter.

Highlights:

  • For Q3 2023, the average equity and fixed income fund (including ETPs) posted a 3.68% and 0.83% decline, respectively.
  • TNA in the conventional funds business declined 2.08%, falling $516 billion from Q2 2023 to slightly more than $24.309 trillion for Q3 2023.
  • The money markets funds macro-group witnessed the largest absolute and relative increases in TNA under management, jumping $233 billion (+4.51%) for the quarter to $5.401 trillion.
  • The developed international markets funds macro-group experienced the largest absolute decline in TNA (-$121.5 billion or -5.02%) of the macro-groups, with assets under management falling to $2.298 trillion on September 30, 2023.
  • TNA in U.S. ETPs decreased 2.20% from $7.335 trillion for Q2 2023 to slightly more than $7.173 trillion for Q3 2023, a decline of more than $161.3 billion.
  • For Q3, the short-/intermediate-term bond ETPs macro-group witnessed the largest absolute and relative increases (+$11.1 billion) in TNA (+1.58%) from the prior quarter end, climbing from $704.2 billion for Q2 to $715.3 billion for Q3.
  • For Q3, actively managed funds—excluding money market funds—handed back some $114.9 billion net, while their passively managed counterparts attracted a net $110.2 billion in estimated net flows.

Click here or on the Download Full Report link in the upper right-hand column of this page to download the entire FundIndustry Insight Report: LSEG Lipper U.S. Mutual Funds & ETPs Q3 2023 Snapshot.

LSEG Lipper delivers data on more than 330,000 collective investments in 113 countries. Find out more.

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