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US ETP assets rise by 1.6 per cent


Assets under management of US exchange-traded products rose by 1.6 per cent totalling USD840bn at 9 April 2010, according to a report by Deutsche Bank.

Equity ETPs had the lion’s share with USD632bn and 75 per cent of market share, followed by fixed income funds with USD124bn and 15 per cent of market share.

There were 13 new listings during the week. PowerShares listed nine ETFs tracking US small cap sector indices and ProShares did the same listing two leveraged biotechnology sector funds; both of these issuers listed their products in Nasdaq.

The remaining two ETPs were listed in NYSE Arca by Van Eck Funds and Javelin IM and offer exposure to Latin American small cap companies and contrarian opportunities, respectively.

During the week USD1.97bn flowed into ETPs, despite of the USD5bn outflow in the SPDR S&P 500 ETF. Equity, fixed income, commodity and currency ETPs had inflows of USD711m, USD607, USD541m, and USD55m, respectively.

In the equity asset class, small cap ETPs had the highest inflows of USD1.5bn followed by regional EM ETPs, while large cap ETPs experienced the largest outflows of USD5.4bn, followed by leveraged ETPs.

Corporate and sub-sovereign contributed the most to the positive cash flows into fixed income ETPs.

Within commodity ETPs, those tracking gold saw the largest inflows followed by those tracking broad commodity benchmarks. Meanwhile, silver ETPs experienced the largest outflows.

ETP turnover remained flat over the previous week and totalled USD61bn.

Turnover in large cap and US sector ETPs maintain the largest share within equity ETPs. For fixed income ETPs, turnover in the sovereign space increased the most. Commodity ETP turnover remains strong in gold and oil ETPs.

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