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Short ETFs continue to gain ground in US, says Deutsche

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Exchange traded fund turnover on US stock exchanges rose 2.4 per cent during the week ending 6 February, with daily average turnover amounting to EUR82bn over the past month, according

Exchange traded fund turnover on US stock exchanges rose 2.4 per cent during the week ending 6 February, with daily average turnover amounting to EUR82bn over the past month, according to a report from Deutsche Bank.

Researchers Aram Flores and Shan Lan found that turnover in the S&P 500 SPDR ETF amounted to USD30bn.

The UltraShort Financials ProShares fund had turnover of USD4.7bn, followed by the PowerShares QQQ Nasdaq 100 with turnover of USD4.4bn.

Two new ETFs were launched during the week ending 6 February. Van Eck Global issued two more in its series of municipal bond ETF, which are listed on NYSE Arca.

Short ETF turnover rose 5.6 per cent to USD13.1bn, making this type of fund the second largest category of ETFs after large cap funds.

Among emerging market ETFs, turnover in the iShares FTSE/Xinhua China ETF totalled USD1bn, followed by the iShares MSCI Brazil ETF with turnover of USD718m.

In developed market flows iShares MSCI Japan had turnover of USD262m. Among regional flows outside the US, emerging market turnover was USD1.96bn, while in developed market regional flows Europe, Australasia and East Asia, the regions tracked by the MSCI EAFE index, had turnover of USD1.43bn.

Total assets under management for equity-based ETFs rose 5.1 per cent from the previous week to USD419bn.

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