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US-listed exchange traded funds see turnover rise, says Deutsche report

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US exchange traded fund turnover rose 14 per cent on the previous week, while monthly average daily turnover reached USD72.9bn, according to a report from Deutsche Bank analysts Aram Fl

US exchange traded fund turnover rose 14 per cent on the previous week, while monthly average daily turnover reached USD72.9bn, according to a report from Deutsche Bank analysts Aram Flores and Shan Lan.

Turnover in the S&P 500 SPDR was USD26.7bn, while the PowerShares QQQ Nasdaq 100 had turnover of USD3.8bn, followed by the UltraShort Financials ProShares with turnover of USD3.7bn.

Eleven new ETFs have been launched since 17 December. Direxionshares launched eight new style ETFs, while Van Eck Global launched a fund based on Indonesia’s main stock market index. Revenue Shares launched another style ETF and Xshares launched a fund based on carbon allowances. All the new ETFs are listed on NYSE Arca.

Short-related ETF turnover declined to USD11bn but remained the second largest category of fund after large-cap ETFs.

Among emerging market ETFs, turnover in the iShares FTSE/Xinhua China ETF was USD910m, followed by the iShares MSCI Brazil ETF with turnover of USD617m.

In developed market flows iShares MSCI Japan had turnover of USD246m. In non-US regional flows emerging market turnover was USD1.85bn, while in developed markets regional flows Europe, Australasia and the East Asia, the regions tracked by the MSCI EAFE index, had turnover of USD1.38bn.

Total assets under management for equity-based ETFs was USD401bn.

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