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US ETF assets under management down 3.3 per cent

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Assets under management for US equity based exchange-traded funds declined by 3.3 per cent to USD499bn in the week to 17 August, according to research by Deutsche Bank.

Assets under management for US equity based exchange-traded funds declined by 3.3 per cent to USD499bn in the week to 17 August, according to research by Deutsche Bank.

US ETF turnover remained at about the same level at USD58.7bn. Turnover in the S&P 500 SPDR was USD18.7bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.4bn followed by the iShares Russell 2000 with turnover of USD2.6bn.

Average daily turnover in the large cap, US sector, leveraged and short products was USD24.8bn (1.2 per cent), USD8.7bn (0.8 per cent), USD8.5bn (1.9 per cent) and USD4.7bn (-8.1 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD983m followed by the iShares FTSE/Xinhua China ETF with turnover of USD1,036m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD210m.

In non-domestic regional flows, emerging market turnover was USD2.6bn and developed markets regional flows EAFE had turnover of USD0.9bn.

Van Eck funds launched one new ETF at NYSE Arca during the week called Market Vectors Vietnam ETF.

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