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Positive markets and inflows add USD5.0bn to US ETP assets


Overall positive markets and flows resulted in a gain in US ETP assets of USD5.0bn last week, according to Deutsche bank figures. ETP AUM rose by 0.4% to USD1.17 trillion from the previous week’s level. YTD growth remains strong at 11.9%. Assets for equity, fixed income and commodity ETPs moved +USD4.2bn, +USD2.5bn, and -USD1.7bn during last week, respectively.

The total US ETP flows from all products registered USD0.8bn of inflows during last week vs USD6.3bn of outflows the previous week, setting the YTD weekly flows average at +USD2.9bn (+USD47.5bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of -USD1.2bn, +USD2.2bn, and -USD0.2bn last week vs. -USD6.8bn, +USD0.9bn, and -USD0.3bn the previous week, respectively.

Within Equity ETPs, Global ex-US regional, US sector, and Small Cap products experienced the largest outflows (-USD0.5bn, -USD0.5bn, -USD0.4bn, respectively); while dividend vehicles experienced the largest inflows (+USD0.3bn). Within Fixed Income ETPs, Corporates products recorded the largest inflows (+USD1.2bn), followed by broad benchmark products (+USD0.5bn). Within Commodity ETPs Silver products experienced the largest outflows (-USD0.1bn).

Total weekly turnover decreased by 12.2% to USD291bn vs. USD332bn in the previous week. Last week’s turnover level is also 22% below last year’s weekly average. The largest decrease was on Equity ETP turnover, which fell by USD32.1bn or 10.8% to USD264bn. Fixed Income and Commodity ETP turnover followed with decreases of -27.0% (-USD5.0bn) and -21.6% (-USD3.1bn), respectively.

There were two new ETF listings and one ETN listing during the previous week. The products were listed on NYSE Arca and BATS. The two ETFs offer access to income strategies; one in the form of MLPs and the other in the form of corporate emerging market debt. The ETN, however, employs a trend-following strategy to give exposure to China.

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