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ETF Securities sees assets under management rise to USD10.3bn

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Exchange-traded commodities experienced a large rise in inflows last week, with total inflows up USD168m and assets under management up USD690m, according to ETF Securities.

Exchange-traded commodities experienced a large rise in inflows last week, with total inflows up USD168m and assets under management up USD690m, according to ETF Securities.

Net inflows have risen by USD3.3bn since mid-November, more than compensating for USD1.8bn of outflows during the financial market meltdown in the second half of last year.

ETF Securities says the Fed’s announcement last week that it will purchase long term government bonds and mortgage backed securities guaranteed by Fannie Mae and Freddie Mac caught the market by surprise. It appears to have caused investors to increase their allocations to hard assets in the hope that more aggressive easing will benefit cyclical assets and to hedge their portfolios against currency debasement and the risk aggressive monetary easing will lead to high inflation.

Continuing the theme of the past few months, the largest inflows last week were into oil and physical gold ETCs. ETFS Physical Gold, Gold Bullion Securities and ETFS Physical Gold received USD159m of new flows, bringing total AUM in ETF Securities’ gold ETCs to USD6.8bn, the second largest ETF/ETC gold holdings in the world.

Energy ETCs saw USD43m of inflows last week, bringing total flows this year to USD958m. ETFS Brent and ETFS WTI saw the largest inflows, with combined flows of USD36m.

Price performance in energy was also extremely strong, with ETFS Brent 1yr rising by 14 per cent, ETFS Brent, ETFS WTI and ETFS Crude Oil up 11-12 per cent and ETFS Heating Oil up 16 per cent on the week.

ETFS Physical Platinum has also seen strong flows recently. Last week flows were up USD11m, the 11th consecutive week of inflows. It now holds 243,478 ounces of physical allocated platinum, up 81 per cent from its 21 November 2008 crisis low. It has also been a strong price performer, up 23 per cent so far this year, with only ETFS Physical silver (up 26.4 per cent), ETFS Copper (up 26.1 per cent) and ETFS Gasoline (up 23.4 per cent) rising faster.

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