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US ETF turnover climbs 1.8 per cent


US exchange-traded fund turnover rose by 1.8 per cent to USD56.5bn in the week to 21 September, Deutsche Bank research shows.

Turnover in the S&P 500 SPDR was USD18.8bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.0bn followed by the Direxionshares Financial Bull 3X Shares with turnover of USD2.7bn.

There were four new ETFs launched in the previous week. State Street, Emerging Global Shares, AdvisorShares Trust and Alps Fund Services launched one new ETF each, listed on NYSE Arca. 

Average daily turnover in the large cap, leveraged, US sector and global regional products was USD24.4bn (0.4 per cent), USD8.6bn (3.6 per cent), USD8.4bn (5.7 per cent) and USD3.8bn (4.1 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD846m followed by the iShares FTSE/Xinhua China ETF with turnover of USD836m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD300m.

In non-domestic regional flows, emerging market turnover was USD2.6bn and developed markets regional flows EAFE had turnover of USD1.1bn.

Total assets under management for equity based ETFs rose by 1.8 per cent to USD547bn.

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