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US ETP assets recover USD13bn on market bounce-back


Positive equity markets and healthy inflows added USD12.6bn or 1.1% to ETP assets last week, bringing assets up to USD1.12bn or up 7.4% YTD at the end of last Friday, according to figures released by Deutsche Bank.

Assets for equity, fixed income and commodity ETPs moved +USD13.9bn, +USD1.3bn, and -USD2.3bn during last week, respectively.

The total US ETP flows from all products registered USD3.1bn of inflows during last week vs USD1.7bn of inflows the previous week, setting the YTD weekly flows average at +USD2.8bn (+USD58.4bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of +USD2.8bn, +USD1.3bn, and -USD1.0bn last week vs. -USD0.6bn, +USD2.0bn, and +USD0.3bn the previous week, respectively.

Within Equity ETPs, large cap and growth style products experienced the largest inflows (+USD1.5bn, +USD1.0bn respectively); while leverage short vehicles experienced the largest outflows (-USD0.3bn). Within Fixed Income ETPs, Sovereign products recorded the largest inflows (+USD0.9bn), followed by broad benchmarked products (+USD0.4bn); while Corporates experienced outflows of USD0.2bn. Within Commodity ETPs, Precious Metals products experienced the largest outflows (-USD1.0bn).

Total weekly turnover decreased by 17.8% to USD318bn vs. USD387bn in the previous week. Last week’s turnover level was 16% below last year’s weekly average. The largest absolute increase was on Equity ETP turnover, which dropped by USD58.9bn or 17.2% to USD283bn. Fixed Income ETP and Commodity ETP turnover followed with decreases of 20.3% (-USD4.3bn) and 26.7% (-USD5.3bn), respectively.

There were two new ETFs and two new ETNs listed on the NYSE Arca during the previous week. The ETFs offer access to covered bonds and to a multi asset strategy, while the ETNs offer monthly double exposure to dividend stocks.

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