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US ETF turnover falls 1.7 per cent

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US exchange-traded fund turnover declined by 1.7 per cent to USD57.7bn in the week to 24 August, according to Deutsche Bank researchers Shan Lan and Aram Flores.

US exchange-traded fund turnover declined by 1.7 per cent to USD57.7bn in the week to 24 August, according to Deutsche Bank researchers Shan Lan and Aram Flores.

Turnover in the S&P 500 SPDR was USD18.9bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.2bn followed by the iShares Russell 2000 with turnover of USD2.5bn.

There were two new ETFs launched during the week. Global X Management launched one new Nordic region based ETF and ProShares launched one fixed income ETF. Both funds are listed at NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and short products was USD24.7bn (-0.3 per cent), USD8.6bn (-1.6 per cent), USD8.4bn (-1.4 per cent) and USD4.2bn (-9.0 per cent) respectively.

Among the emerging country ETFs, iShares FTSE/Xinhua China ETF turnover was USD1,012m followed by the iShares MSCI Brazil ETF with turnover of USD915m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD202m.

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

Total assets under management for equity based ETFs rose by 4.9 per cent to USD523.2bn.

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