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\nEquity flows of $66.2B accounted for 93.5% of total ETP flows, up from 83% in December. Fixed income flows, in contrast, finished January in marginally negative territory (-$1.5B), while commodity flows showed signs of life amid market volatility with $5.1B added<\/strong><\/p>\nKey themes in January:<\/strong><\/h6>\nRisk on<\/strong><\/h6>\nAt the regional level, equity trends were similar to what we observed in January 2021: US equity flows accounted for $7.4B (down from $87.0B in December and vs. $3.3B in January 2021), while flows into EM equity \u2013 predominantly China exposures \u2013 and European equity picked up, accounting for a larger share of overall equity flows.<\/p>\n
EM equity notched up a record $16.8B of inflows in January, beating the previous record of $16.0B set in December 2019. In line with the previous month\u2019s trends, single EM exposures accounted for the vast majority of total flows ($12.6B), with $11.7B going to Chinese equity alone. Inflows into China were broad based, with record monthly levels for EMEA-listed ($1.0B) and US-listed ($3.1B) Chinese equity ETPs.<\/p>\n
European equity flows also picked up ($8.0B), making January the largest inflow month since May 2021. In contrast to the 2021 trend of international buying outpacing domestic flows, EMEA-listed ETPs ($6.1B) led inflows in January.<\/p>\n
Fixed income turns negative<\/strong><\/h6>\nJanuary marked the first outflow month for fixed income ETPs (-$1.5B) since the initial Covid selloff (- $27.5B in March 2020). These outflows were driven by the largest monthly selloff on record for high yield (HY) (-$7.6B), led by US-focused, US-listed HY. Staying in credit, investment grade flows were fairly flat (-$0.2B).<\/p>\n
Inflation-linked bond ETP flows turned negative for the first time since April 2020, with -$1.7B out amid a broad market repricing of central bank policy paths. While investors sold across listing regions, US-focused inflation-linked ETPs dominated selling, as eurozone linkers notched up small inflows ($0.2B).<\/p>\n
With all eyes on where investors are not buying in fixed income, EMD inflows have flown under the radar for several months. January flows of $1.2B continued the buying trend, with China bonds particularly in demand ($1.4B), despite -$1.8B of outflows from hard currency.<\/p>\n
A value tint in flows<\/strong><\/h6>\nAll eyes have been on the value rotation in markets, but in flows, it has been more of a tilt. While inflow into value-tilted cyclicals have undoubtedly picked up \u2013 financials led the way in January with a record $10.9B added \u2013 investors haven\u2019t sold out of their quality exposures.<\/p>\n
Tech flows came in at a muted $0.4B for the month, while healthcare flows were at $3.2B \u2013 making it the third-most popular sector in January. Highlighting the investing we\u2019ve seen across the barbell, utilities and energy flows picked up to $1.3B and $3.1B, respectively. In commodities, gold buying also rose to the highest level since May 2021, with $2.8B of inflows.<\/p>\n
After gathering inflows in the first two weeks of the month, buying in industrials reversed to end the month in negative territory (-$0.2B), the ninth consecutive month of outflows. Meanwhile, materials flows turned positive, with $0.7B of inflows in January.<\/p>\n
Flow momentum into sustainable stutters<\/strong><\/h6>\nSustainable flows did not quite match wider ETP industry flows in January, with a significant slowdown in momentum from December. With $7.3B inflows across the US and EMEA, flows for January totalled just over half of the $13.4B added in December 2021.<\/p>\n
EMEA-listed flows saw the more significant drop of the two, falling from $12.7B in December 2021 to $6.7B in January 2022, while US-listed flows dropped from a lower base of $0.8B to $0.5B from December to January.<\/p>\n
The majority of EMEA-listed flows went into best-in-class strategies, which saw inflows of $4.9B. ESG-optimised strategies came in second with $1.1B, followed closely by climate-exclusive strategies, which recorded their best month to date, with $1.0B added. With -$0.2B out, screened strategies saw their first net outflow month since March 2020.<\/p>\n
Breaking down US-listed flows, best-in-class strategies and environmental strategies also registered January outflows, with net sells of -$0.8B and -$0.6B, respectively. Optimised strategies, however, saw inflows of $1.28B and were the main driver of net inflows, alongside screened strategies, which gathered $0.6B for the month.<\/p>\n
Quelle: ETFWorld<\/p>\n
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BlackRock Global ETP Flows : Risk on in 2022: inflows into global ETPs in January were down on December\u2019s bumper $150.6B, with $70.9B added, but the proportion of equity buying was at the highest level since March 2020.<\/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":[352],"class_list":["post-26534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf-monatsberichte-en","tag-blackrock-global-etp-flows"],"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\/26534","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=26534"}],"version-history":[{"count":4,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts\/26534\/revisions"}],"predecessor-version":[{"id":31138,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts\/26534\/revisions\/31138"}],"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=26534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/categories?post=26534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/tags?post=26534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}