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Inflows to gold and fixed income ETPs suggest fear trade


US ETPs registered USD0.9bn of inflows during last week vs USD4.2bn of inflows the previous week, setting the YTD weekly flows average at +USD2.2bn. ETF markets experienced safe haven-driven flows.

Equity, Fixed Income, and Commodity ETPs experienced flows of -USD1.9bn, +USD1.4bn, and +USD1.3bn last week vs. +USD1.5bn, +USD1.3bn, and +USD1.4bn the previous week, respectively.

Within Equity ETPs, Dividend products experienced the largest inflows (+USD0.7bn), followed by Mid Cap ETPs (+USD0.5bn); while US Sector vehicles experienced the largest outflows (-USD1.2bn). Within Fixed Income ETPs, Sovereign products experienced the largest inflows (+USD0.5bn), while no category recorded outflows.

Within Commodity ETPs, Precious Metals recorded the largest inflows (+USD1.4bn) mostly driven by inflows to Gold ETPs (+USD1.5bn), while Agriculture products experienced the largest, albeit mild, outflows (-USD0.03bn).

There were three new ETPs listed during the previous week. The new ETPs offer access to copper through futures contracts, international preferred stocks, and stocks with social media focus. See Figure 18 for further details. Turnover Review: ETP turnover continued to trend lower

Total weekly turnover dropped by 3.8% to USD371bn vs. USD386bn in the previous week. The largest decrease was on Equity ETP turnover, which declined by USD16.9bn or 4.9% to USD329bn. Fixed Income ETP turnover experienced a mild increase of USD0.2bn to USD15.3bn last week. Finally, Commodity ETPs products turnover was up by USD1.9bn, totalling USD23.2bn at the end of last Friday. Assets Under Management (AUM) Review: assets dropped by 3.1%

Total ETP assets dropped by 3.1% driven mainly by the equity markets plunge. Year to date, they accumulate a growth of 4.0%, ending up at USD1.035 trillion last Friday. Assets for equity, fixed income and commodity ETPs moved -USD30.7bn, +USD0.3bn, and -USD2.3bn during last week, respectively.


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