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Market rally and USD5bn inflows boost US ETP assets by USD30bn


Assets under management of US exchange-traded products reached a new all-time high of USD1.247trn last week, keeping the trend seen during the last couple of weeks, according to figures released by Deutsche Bank.

As of last Friday, US ETPs have accumulated an asset growth of 19.2 per cent YTD. Assets for equity, fixed income and commodity ETPs moved +USD25.7bn, -USD0.9bn, +USD5.2bn during last week, respectively.

The total US ETP flows from all products registered USD5.0bn of inflows during last week vs. USD2.0bn of inflows the previous week, setting the YTD weekly flows average at +USD2.7bn (+USD98.4bn YTD in total cash flows).

Equity, fixed income, and commodity ETPs experienced flows of +USD5.0bn, -USD0.8bn, and +USD0.6bn last week vs. inflows of +USD0.5bn, +USD1.3bn and +USD0.2bn in the previous week, respectively.

Within equity ETPs, small cap products had the most inflows (+USD1.0bn), while US broad country products had the most, albeit discrete, outflows (-USD73m). Within fixed income ETPs, corporate products had the largest inflows (+USD0.8bn), while sovereign products had significant outflows (-USD1.8bn). And within commodity ETPs, precious metals products experienced inflows of +USD0.5bn; meanwhile energy products had outflows of -USD0.2bn.

Total weekly turnover increased by 14.5 per cent to USD217bn vs. USD189bn from the previous week. However, last week’s turnover level was 43 per cent below last year’s weekly average. Equity ETP turnover increased by USD21.6bn, or 13.4 per cent, to USD183bn. Concurrently, fixed income and commodity ETPs turnover rose by 29.1 per cent (USD3.4bn) and 9.3 per cent (USD1.3bn), respectively.

There was one new ETN listed during the previous week. The new product offers exposure to the S&P 500 Total Return Index, the S&P 500 Low Volatility Total Return Index or the S&P 500 Equal Weight Total Return Index, based on a quantitative strategy.

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