{"id":30799,"date":"2023-02-10T15:00:11","date_gmt":"2023-02-10T14:00:11","guid":{"rendered":"https:\/\/www.etfworld.com\/ch\/?p=30799"},"modified":"2023-04-19T17:27:36","modified_gmt":"2023-04-19T15:27:36","slug":"blackrock-global-etp-flows-january-2023","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/ch\/blackrock-global-etp-flows-january-2023\/","title":{"rendered":"BlackRock Global ETP Flows January 2023"},"content":{"rendered":"
BlackRock Global ETP Flows<\/strong> – Flows slow: Allocations to global ETPs fell for the fourth consecutive month in January, to $62.6B, largely due to reduced equity buying at the start of the month.<\/h5>\n

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BlackRock Global ETP Flows January 2023
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\u00a0\u00a0\u00a0 Bonds in favour: Equity flows fell from $43.1B in December to $32.8B in January, while fixed income flows ticked up to $28.7B (from $28.3B in December).<\/strong><\/p>\n

\u00a0\u00a0\u00a0 Commodities turn positive: commodity ETPs ($0.9B) notched up the first inflow month since April 2022<\/strong><\/p>\n

Europe on the agenda<\/strong><\/p>\n

US equity ETPs (-$1.7B) saw outflows across listing regions in January \u2013the first monthly net sell since April 2022. While some US outflows can be attributed to tax-loss harvesting, US-listed US equity actually finished the month flat, with outflows led by their EMEA-listed peers (-$1.1B).<\/p>\n

Flows into European equity ETPs, in contrast, were significantly up on the month. European equity ($7.3B) saw the largest inflow month since January 2022, led by US-listed European equity exposures \u2013highlighting investors\u2019 shift beyond the domestic market. The $2.1B added to EMEA-listed European equity included sector allocations to financials and consumer staples, strongly led by broad market ETPs.<\/p>\n

Sector flows point to selective risk-taking in US equity, with increased flows into materials ($0.9B) \u2013the largest monthly level since March 2022 \u2013and industrials ($0.8B). 2022 winners had a tougher month, with outflows from healthcare (-$1.0B) and tech (-$0.1B).<\/p>\n

A bIG month for credit<\/strong><\/p>\n

Investment grade (IG) credit ($12.6B) registered the third-largest inflow month on record in January \u2013the largest monthly net buy since June 2020. This positive sentiment carried over to high yield (HY, $2.4B), which reversed December\u2019s outflows of -$0.9B.<\/p>\n

The re-risking trend is clear in EMEA-listed ETP flows. Allocations to EMEA-listed HY and IG accounted for 37% of global flows \u2013and an even larger share of EMD (53%) \u2013but c.1% of US Treasury flows. In contrast to 2022 trends, EMEA-listed ETP flows tilted towards full-duration credit: \u2013just 3% of EMEA-listed IG flows went into short-duration, in contrast to c.17% of global IG ETP flows. Overall, UCITS investors showed a strong preference for EUR vs. USD exposures.<\/p>\n

Emerging sentiment<\/strong><\/p>\n

Flows into EM equity reached the highest level in a year in January, with $15.9B added. In line with the trend seen in European equity, US-listed allocations ($9.0B) once again led the way, supported by EMEA-listed inflows ($5.3B). Global flows into EM equity were split between broad ($8.6B) and single country exposures ($7.3B).<\/p>\n

China ($6.4B) was the stand out among EM single exposures, following inflows of $8.9B in December. January saw $1.8B added to EMEA-listed China ETPs, matching the previous monthly record set in June 2022. US-listed allocations ($2.1B) rose 3.5x on the month, the highest monthly level since June 2022.<\/p>\n

EMD also notched up a second consecutive month of inflows, with $2.2B added in January, following $2.9B in December. This also follows the first outflow year on record for EMD, with $9.0B lost in 2022. The inflows also come in tandem with re-risking across fixed income (see previous page for more).<\/p>\n

A sustainable start to the year<\/strong><\/p>\n

Sustainable ETP flows in January remained in line with December 2022 levels, with $4.8B added across the US and Europe. EMEA-listed ETPs ($5.7B) saw flows rise from $4.3B previously, while the US (-$855m) recorded even stronger net outflows than December\u2019s -$100m.<\/p>\n

Within Europe, equity ETPs dominated sustainable flows, with $3.6B added \u2013the highest level since July 2022 \u2013led by ESG best-in-class strategies ($1.5B). At a regional level, EM equity ($537m) led the way, followed by global exposures ($400m). EMEA-listed fixed income flows ($2.1B) were consistent with December levels ($2.4B). ESG best-in-class strategies led buying with $1.6B added, predominantly into eurozone ($563m) and US exposures ($392m).<\/p>\n

In the US, sustainable flows were driven by fixed income ($124m), reversing December\u2019s net outflows of -$109m. Buying was led by ESG Optimised strategies in US exposures ($313m). Equity saw net inflows into sustainability-related ($33m) and climate-exclusive ($13m) strategies.<\/p>\n

Quelle: ETFWorld<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock Global ETP Flows – Flows slow: Allocations to global ETPs fell for the fourth consecutive month in January, to $62.6B, largely due to reduced equity buying at the start of the month.<\/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":[352,164],"class_list":["post-30799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf-monatsberichte-en","tag-blackrock-global-etp-flows","tag-etp"],"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\/30799","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=30799"}],"version-history":[{"count":3,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts\/30799\/revisions"}],"predecessor-version":[{"id":31349,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/posts\/30799\/revisions\/31349"}],"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=30799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/categories?post=30799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/ch\/wp-json\/wp\/v2\/tags?post=30799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}