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Equity inflows keep fuelling US ETP AUM growth towards USD1.3trn


US exchange-traded products assets keep trending higher and are now just USD0.7bn away from reaching the USD1.3trn mark, according to Deutsche Bank.

As of last Friday, US ETPs have accumulated an asset growth of 24.2 per cent YTD. Assets for equity, fixed income and commodity ETPs moved +USD13.1bn, +USD1.0bn and +USD1.5bn during last week, respectively.

The total US ETP flows from all products registered USD4.2bn of inflows during last week vs USD7.72bn of inflows the previous week, setting the YTD weekly flows average at USD3.4bn (USD134.9bn YTD in total cash flows).

Equity, fixed income and commodity ETPs experienced flows of USD2.25bn, USD0.97bn and USD1.14bn last week vs USD6.58bn, USD1.04bn and USD0.09bn in the previous week, respectively.

Within equity ETPs, large cap products had the most inflows (USD1.7bn), while mid cap and small cap products had the largest outflows of USD0.8bn and USD0.6bn, respectively. Within fixed income ETPs, sub-sovereign products had the largest inflows (USD0.8bn), while sovereign products experienced the only outflows (-USD0.7bn). Within commodity ETPs, precious metals products experienced inflows of USD1.0bn, most of them driven by gold ETPs.

There was one new alternative ETF listed during the previous week. The new product, a fund of funds from IndexIQ, was listed in the NYSE Arca and offers access to a market neutral strategy that seeks to minimise exposure to systematic risk.

Total weekly turnover decreased by 0.8 per cent to USD262bn versus USD264bn from the previous week. Last week’s turnover level was 31 per cent below last year’s weekly average. Equity and commodity ETPs turnover decreased by USD3.2bn (1.4 per cent) to USD224.5bn, and USD0.8bn (4.8 per cent) to USD15.6bn, respectively; meanwhile, fixed income ETPs turnover increased by USD2.5bn (14.7 per cent) to USD19.5bn vs. USD17.0bn the previous week.

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