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Markets and USD12bn Inflows boosted US ETP assets

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Total US ETP flows from all products registered USD12.1bn of inflows during last week vs USD3.9bn of inflows the previous week, setting the YTD weekly flows average at +USD3.1bn (+USD73.4bn YTD in total cash flows), according to Deutsche Bank.

Equity, Fixed Income, and Commodity ETPs experienced flows of +USD9.4bn, +USD2.3bn, and +USD0.4bn last week vs. +USD2.9bn, +USD0.8bn, and +USD0.4bn the previous week, respectively. We believe that part of the strong inflows to equity ETPs were due to S&P 500 rebalancing related activity.

Total weekly turnover dropped by 1.3% to USD316bn vs. USD320bn in the previous week. Last week’s turnover level was 16% below last year’s weekly average. Equity ETPs experienced an increase, rising by USD7.5bn or 2.7% to USD282bn. In the meantime, Fixed Income and Commodity ETP turnover dropped by 36.1% (-USD9.0bn) and 16.4% (-USD2.9bn), respectively.

Fuelled by positive markets and strong inflows, ETP asset growth YTD came back to the double digit area with 10.3%. The additional USD24.6bn boosted assets by 2.2% on a week over week basis reaching USD1.15 trillion at the end of last Friday. Assets for equity, fixed income and commodity ETPs moved +USD18.5.bn, +USD3.1bn, and +USD3.0bn during last week, respectively.

Within Equity ETPs, large cap and US sector products experienced the largest inflows (+USD8.1bn, +USD0.9bn respectively); while emerging country vehicles experienced the largest outflows (-USD0.3bn). Within Fixed Income ETPs, Corporates products recorded the largest inflows (+USD1.9bn), followed by broad benchmarked products (+USD0.3bn); while Sovereign experienced outflows of USD0.1bn. Within Commodity ETPs, Precious Metals products experienced the largest inflows (USD0.4bn).

There was one new ETF and one new ETN listed on the NYSE Arca during the previous week. The ETF offers exposure to companies in the Oil Sands business in North America; while the ETN provides access to leverage returns on the Russell 1000 growth index.

 

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