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US ETP assets edge higher despite outflows of USD3.0bn


Positive markets drove US exchange-traded product assets up by 0.8 per cent, in spite of sizeable outflows of USD3.0bn during last week, ending the week at USD1.19trn, according to Deutsche Bank.

As of last Friday, US ETPs have accumulated an asset growth of 13.5 per cent YTD. Assets for equity, fixed income and commodity ETPs moved +USD8.0bn, +USD0.4bn, and +USD1.5bn during last week, respectively.

The total US ETP flows from all products registered USD3.0bn of outflows during last week versus USD5.5bn of inflows the previous week, setting the YTD weekly flows average at +USD2.7bn (+USD81.0bn YTD in total cash flows).

Equity, fixed income, and commodity ETPs experienced flows of -USD3.1bn, +USD0.6bn, and -USD0.5bn last week versus +USD5bn, +USD1.2bn, and -USD0.8bn previous week, respectively.

Within equity ETPs, emerging markets products experienced the largest inflows (+USD1.0bn), while large cap products had the largest outflows (-USD4.7bn). Within fixed income ETPs, corporate products had the largest inflows (+USD0.3bn), while sovereign ETPs experienced the only outflows (-USD0.1bn), respectively. Within commodity ETPs, precious metals products experienced the largest outflows (-USD0.4bn), while the other sectors experienced less relevant flows.

Total weekly turnover increased by 21 per cent to USD289bn versus USD238bn in the previous week. Last week’s turnover level was 23 per cent below last year’s weekly average. Equity ETPs experienced an increase of USD46.7bn or +22.3 per cent to USD256bn along with fixed income ETPs which rose by 19.8 per cent (+USD2.8bn). In the meantime, commodity ETPs turnover experienced a small decline (-0.1 per cent).

There was one new ETF listed during last week. The new product offers exposure to an active asset allocation strategy by investing in companies which sectors are believed to have the greatest potential for capital appreciation according to the fund’s managers.

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