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Commodity ETF inflows reach record high in Europe


ETFGI’s Europe ETF report for February 2016 finds that ETFs/ETPs listed in Europe gathered net inflows of USD2.92 billion over the month. This marks the 17th consecutive month of net inflows.

 ETFGI reports that the European ETF/ETP industry had 2,199 ETFs/ETPs, with 6,846 listings, assets of USD485 billion, from 52 providers listed on 25 exchanges at the end of February 2016.
“February was another volatile month for equity markets which drove investors to invest net flows into government bonds and gold,” says Deborah Fuhr, managing partner at ETFGI. “The S&P Europe 350 index was down –2.07 per cent marking the third consecutive month loss.  The S&P 500 closed the month down 0.13 per cent. Despite recent uncertainty, emerging markets gain 0.31 per cent in February, while developed markets outside of the U.S. declined 1 per cent.”
In February 2016, ETFs/ETPs listed in Europe gathered net inflows of USD2.92 billion. Commodity ETFs/ETPs gathered the largest net inflows with USD2.66 billion, followed by fixed income ETFs/ETPs with USD2.12 billion, while equity ETFs/ETPs experienced net outflows of USD2.19 billion.
The net inflow of USD2.66 billion into Commodity ETFs/ETPs in February 2016 is a record high, according to ETFGI. The previous record was USD2.12 billion in September 2012.
ETF Securities gathered the largest net ETF/ETP inflows in February with USD1.36 billion, followed by iShares with USD771 million and Vanguard with USD330 million net inflows.
Year to date, ETF Securities gathered the largest net ETF/ETP inflows with USD1.74 billion, followed by iShares with USD1.55 billion and Think ETFs with USD522 million net inflows.
Commenting on the data, Townsend Lansing, Head of ETCs, ETF Securities, says:
“Over 90 per cent of the inflows we’ve seen were in our commodity ETPs, a clear confirmation of our leadership role within this space. This is a true recognition of our work over many years to build out Europe’s most comprehensive range of commodity ETPs. It also reflects our clear focus on building strong relationships with investors of all types via our regular insights-driven research and high quality education initiatives.”
However the firm warns that ETF Securities’ performance suggests that commodities may have reached a turning point. “ As highlighted in the company’s 2016 Outlook, we have most likely reached the point of ‘peak bearishness’ and while market dynamics indicate that investors fret over the possibility of a global recession, investors are recognising that commodities can present a good investment opportunity,” Lansing says.
The report found that MSCI has the largest amount of ETF/ETP assets tracking its benchmarks reflecting 22.0 per cent market share; STOXX is second with 21.3 per cent market share, followed by S&P Dow Jones with 12.3 per cent market share.

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