Abonnieren Sie unseren kostenloser Newsletter<\/a><\/strong><\/p>\n
\nGlobal ETP Flows June 2021
\n<\/strong><\/p>\n
\nThe pickup in flows was driven by an increase in equity ETP buying ($101.5B), while fixed income flows dropped slightly ($20.8B).<\/strong><\/p>\nThe first half of the year has been characterised by risk-on sentiment, and this has played out in global ETP flows. The $519B added to equity ETPs globally puts 2021 on track to be a record \u2013and has already surpassed all previous annual flows into equity ETPs.<\/strong><\/p>\nKey themes in June:<\/strong><\/span><\/p>\nUS flows pick up<\/strong><\/span><\/p>\n\n- Flows into US equity ETPs<\/strong><\/span> increased 2.5x vs. May\u2019s flows, with $71.7B of inflows in June \u2013the second-highest month on record (behind the mammoth $75.7B added in March this year, and ahead of the $61.7B added in February). As is usually the case for flows into US equity exposures, buying was predominantly focused in US-listed ETPs, although EMEA-listed US equity flows also increased from $2.3B in May to $3.4B in June.<\/li>\n
- European equities<\/strong><\/span> continued to be popular, with a further $6.2B of inflows in June, albeit slightly down from the $8.7B added in May. International demand remained strong in June: flows into US-listed European equity ETPs ($4.2B) outpaced EMEA-listed European equity buying ($1.9B) for the third consecutive month. At the global level, European equity ETPs have gathered net inflows in every month since November \u2013making this the longest inflow streak since November 2016-November 2017. The $24.4B added to European equity ETPs YTD also puts 2021 on track to be the largest inflow year since 2017.<\/li>\n
- Buying in US ($3.8B) and EMEA-listed ($1.7B) emerging market (EM) equity ETPs<\/strong> <\/span>also picked up in June \u2013almost entirely into broad EM exposures \u2013but was largely offset by selling out of single country APAC-listed products, resulting in $0.5B of global net inflows for the month.<\/li>\n<\/ul>\n
A tilt to quality<\/strong><\/span><\/p>\n\n- Within equity flows, a tilt to quality started to come through at a sector and factor level. Tech reversed the $1.7B of outflows in May with $2.4B added in June \u2013the highest inflow month since the record $13.4B added in March. Meanwhile, financials flows dropped to $2.9B \u2013the lowest since October 2020, and flows into industrials sector exposures fell into negative territory for a second consecutive month (-$1.8B).<\/li>\n
- More and more investors are using sector ETPs as a way to implement granular views, with $108.1B into sector exposures globally YTD vs. $111.8B for 2020 as a whole. Quality factor flows hit $1.6B in June \u2013the highest level since November 2019 \u2013while value flows fell to their lowest level in four months ($2.2B).<\/li>\n<\/ul>\n
Building momentum in spread assets<\/strong><\/span><\/p>\n\n- Fixed income flows<\/strong> i<\/span>n June followed a similar pattern to May, despite dropping at the headline level to $20.8B. Global flows into rates exposures picked up to $5.9B \u2013the highest monthly inflows since March 2020 \u2013driven by buying in US Treasury ETPs.<\/li>\n
- In credit, investment grade (IG) flows<\/strong><\/span> increased to $2.2B in June, leaving Q2 flows at $9.4B \u2013the highest level since Q3 2020. Sentiment towards high yield (HY) ETPs fluctuated over the quarter, with two months of inflows followed by $0.3B of outflows in June \u2013the third month of selling so far this year. US-listed HY recorded outflows in June, while flows into EMEA-listed products remained positive ($0.2B), albeit below the previous month.<\/li>\n
- Emerging market debt (EMD)<\/strong><\/span> remained popular across listing regions, with $2.1B added to EMD ETPs globally in June, slightly down from $2.4B in May. China bonds continued to be popular: buying in China bond ETPs hit $1.1B in June, up slightly from May\u2019s inflow figure.<\/li>\n
- Global flows into fixed income ETPs<\/strong> <\/span>stood at $139B at the end of H1 \u2013ahead of this time last year, when $126B had been added. Inflation-linked ETPs have been a key focus, with $21.6B added during the first half of 2021 \u2013surpassing the record full-year total in 2020 ($17.3B).<\/li>\n<\/ul>\n
Sustainable ticks up<\/strong><\/span><\/p>\n\n- Flows into US and EMEA-listed sustainable ETPs<\/strong><\/span> increased to $8.8B in June, up from May\u2019s nine-month low ($5.5B), but shy of the record $18B added back in February amid broad equity inflows.<\/li>\n
- ESG best-in-class funds<\/span> <\/strong>accounted for just under half of the $5.6B added to EMEA-listed sustainable products in June, led by equity exposures. Best-in-class versions of Japanese equity exposures recorded $0.6B of net inflows \u2013their highest on record.<\/li>\n
- Flows into US-listed sustainable ETPs totalled $3.1B in June. <\/strong><\/span>ESG-optimised strategies were popular, while environmental strategies also made a resurgence as the second-most popular sustainable exposure, recording $0.6B of net inflows in June. This was the highest level since January \u2013driven primarily by buying into clean energy exposures \u2013and a recovery from the $0.2B of outflows in May.<\/li>\n<\/ul>\n
Quelle: ETFWorld<\/p>\n","protected":false},"excerpt":{"rendered":"
BlackRock ETP Landscape: Global flows into ETPs rebounded to $122B in June, up from $97.3B in May, making it the third-highest inflow month of the year (and fourth highest on record).<\/p>\n","protected":false},"author":4,"featured_media":23099,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"telegram_tosend":false,"telegram_tosend_message":"","telegram_tosend_target":0,"footnotes":"","_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[459],"tags":[251],"class_list":["post-25151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf-monatsberichte-en","tag-blackrock-etp-landscape"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts\/25151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/comments?post=25151"}],"version-history":[{"count":1,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts\/25151\/revisions"}],"predecessor-version":[{"id":25152,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts\/25151\/revisions\/25152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/media\/23099"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/media?parent=25151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/categories?post=25151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/tags?post=25151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}