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Amundi reports on December ETF asset flows

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Amundi ETF writes that the global ETF market attracted +EUR495 billion in 2019 and +EUR82 billion during the month of December. The firm writes that the positive scenario remains resilient for both equity and fixed income asset classes.

Amundi ETF writes that the global ETF market attracted +EUR495 billion in 2019 and +EUR82 billion during the month of December. The firm writes that the positive scenario remains resilient for both equity and fixed income asset classes.

Equity inflows amounted to +EUR64 billion in December and +EUR250 billion all over the year while bonds inflows totalled +EUR18 billion in December and +EUR228 billion in 2019 overall. 

During the last month of the year, equity flows were driven by North America stocks that gathered +EUR32.7 billion, followed by Emerging Market exposures with +EUR14.4 billion and World equity ETFs +EUR11 billion. The firm notes that fixed income ETFs keep on attracting positive flows as well: in December investors preferred Aggregate +EUR7.6 billion and Corporate +EUR6.8 billion bonds. 

In Europe, Amundi reports that equity flows followed the same positive trend observed at the global level (+EUR13 billion) in December and (+EUR48 billion) over the year.

Looking at specific exposures, as observed at a global level, investors focused on US and North America equity ETFs that lead inflows (+EUR4.2 billion), followed by EM ETFs (+EUR3 billion).

 SRI equity ETFs kept on attracting consistent flows, with close to EUR2.5 billion net new assets in December.

Flows to Smart beta ETFs were positive too (+EUR1.5 billion), with Value (+EUR726 million) and Size (+EUR583 million) on the top of the list. Meanwhile Min Vol ETFs suffered withdrawals (-EUR649 million).

Within sectors, Financials (+EUR544 million) and Health Care (+EUR272 million) stocks remained in a positive scenario.

Amundi notes that, looking at the Fixed Income asset class, flows were also positive, with (+EUR4.5 billion in December and close to (+EUR55 billion) over the year.
    
Looking at specific exposures, in December, flows were balanced between corporate bonds (+EUR2.06 billion) and government debt (+EUR2.02 billion), while, over the year, corporate bonds were preferred by investors and attracted (+EUR28.6 billion) vs (+EUR22 billion) for government debt.
Among corporate bonds, investors preferred Eurozone, Amundi notes, which gathered (+EUR608 million) in December and (+EUR13 billion) over the year.
   
On the government debt side, last month investors turned their attention to US short-term exposures that gathered (+EUR648 million) net new assets. Over the year, EM govies were the main collectors with (+EUR7.8 billion) of inflows.

In terms of commodities, Amundi writes that inflows to gold funds benefited from an acceleration at the end of the year gathering (+EUR125 million) net new assets in December and around (+EUR700 million) overall in 2019.

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