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2023’s Exodus From US Stock Funds Nears $40 Billion
I felt compelled Friday to pen a quick update on the equities flow story in 2023.
The tie-in with the macro narrative is important, and having broached the subject at least twice over the past several weeks, I can't very well abandon it just because I don't have anything especially novel to say.
For once, I won't bury the lede, tempting though it always is. The exodus from US equity funds continued during the latest weekly reporting period. In fact, it accelerated.
More than $10.6 billion fle
This seems like a stupid question but is the relationship between flows and performance direct? If not, what other factors influence price?
This data covers flows in and out of stock funds. So just a subset of all flows.
You still need to account for the mammoth flows by algo managers (via futures), option-driven flows as well as share buy-backs.
These can overwhelm “real money” flows.