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US ETF turnover down 3.3 per cent


US exchange-traded fund turnover declined by 3.3 per cent to USD58.6bn in the week to 13 July, according to research by Deutsche Bank.

US exchange-traded fund turnover declined by 3.3 per cent to USD58.6bn in the week to 13 July, according to research by Deutsche Bank.

Turnover in the S&P 500 SPDR was USD18.8bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.1bn followed by the iShares Russell 2000 with turnover of USD2.4bn.

Average daily turnover in the large cap, US sector, leveraged and short products was USD24.7bn (-10.6 per cent), USD8.8bn (-9.0 per cent), USD7.1bn (-4.5 per cent) and USD6.4bn (1.0 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,049m followed by the iShares FTSE/Xinhua China ETF with turnover of USD858m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD244m.

In non-domestic regional flows, emerging market turnover was USD2.5bn and developed markets regional flows EAFE had turnover of USD1.1bn.

Total assets under management for equity-based ETFs remained at about the same level at USD446bn.

Alps Fund Services launched one fund in the week, which is listed at NYSE Arca.

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