Fall falls

BlackRock reported this week that September saw a slowdown in global flows into ETPs, down to USD35.9 billion in September from USD51.2 billion in August, driven, the firm says, by a halving of fixed income buying (USD12.0 billion in September vs. USD23.3 billion in August).

The firm writes that the drop in fixed income flows at the headline level masked huge dispersion below the surface. Better news lies in equities with equity flows holding up relatively well, falling from USD31.4 billion in August to USD31.0 billion in September, while commodities continued their outflows for a fifth consecutive month (-USD6.9 billion).

The challenging markets continue to have their impact on ETFs – not just lowering asset flows but also in forcing issuers and others to be creative in their efforts. Europe’s Equiduct, the pan-European retail exchange, is showing signs of growth in ETP appetite, having announced this week that it has expanded its range of ETPs trading in Apex to include a further 314 ISINs.

The firm writes that over five million retail investors have access to Apex and now the firm is expanding its range of assets classes, exposure and geographies to include commodity, fixed income and currency ETPs, plus crypto ETPs, with an offering from 21Shares.

Our interview this week with Matteo Dante Perruccio from digital asset manager Wave Financial saw him expressing cautious views on the strength of the ETP sector in Europe for crypto-based products. 

He cites the speculative run up on bitcoin against which the ETP market boomed up until the onset of the crypto winter earlier this year. “I saw the ETP market boom and it was the worst time to buy bitcoin. I am not sure it’s the right approach for most investors but can see why it appeals from an investment process perspective and as volatility diminishes it will play a greater role as an access product.”

Do register for our latest outing with Europe’s white labelling firm HANetf and Asset TV. Are there more socially responsible ways to gain exposure to gold, the firm asks.

Register here to join the debate.

Beverly Chandler, Managing Editor

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Companies in this issue

Distillate Capital
Goldman Sachs Asset Management
Tabula Investment Management
Victory Capital


The firm writes that over five million retail investors have access to Apex, the on-exchange Best Execution service from Equiduct with zero trading fees for retail flow and they will now be able to benefit from trading these popular ETPs and ETFs.
The September ETP report from iShares by BlackRock reveals that global flows into ETPs fell to USD35.9 billion in September, down from USD51.2 billion in August, driven by a halving of fixed income (FI) buying (USD12.0 billion in September vs. USD23.3 billion in August).
Investors are backing two social impact funds from the American Heart Association. The funds have announced a new investing milestone. USD32 million is being invested in projects designed to alleviate the social and economic barriers to health equity. The funds provide financial grants and low-interest loans for evidence-based, community-driven work in targeted communities nationwide. So far, the funds have invested in a total of 98 local social enterprises in 16 cities across the country. 
With some 35 years of experience in institutional asset management, Matteo Dante Perruccio is now at the forefront of the crypto asset management world, in his role as President International of Wave Financial (Wave), a SEC regulated digital asset investment manager with more than USD1 billion in AUM.


A busy week for ETF launches saw expansion in the short and leveraged offerings from GraniteShares, with 23 new ETPs, and Europe’s Equiduct retail exchange adding a further 314 ETPs to its offering, including products from the crypto and short and leveraged world.
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