EMEA-listed ETP Flows October 2019
\n<\/strong><\/p>\n
\nFlows into equity ETPs moderated to $8.3B in October, down from $13.8B in September.<\/p>\n
Fixed income gained $4.9B, while inflows into commodity ETPs increased to $1.6B.<\/p>\n
Key themes this month:<\/strong><\/p>\n\n- The Europe comeback?:<\/strong> A second consecutive month of European equity inflows<\/li>\n
- Quality fixed income:<\/strong> Investment grade (IG) and rates inflows continue<\/li>\n
- Value in vogue:<\/strong> October was the biggest inflow month of the year for the value factor<\/li>\n<\/ol>\n
The Europe comeback?<\/strong><\/p>\n\n- European equites gained their largest inflow month this year with $4.4B added in October.<\/strong>This marked the first time the exposure has received positive inflows in consecutive months since October 2018; investors have bought $7.9B of European equities since September.Despite the improvement in sentiment towards European equities, net flows this year still remain negative at -$4B.<\/li>\n<\/ul>\n
\n- Investors tempered their buying of US equities to only $0.2B in October after September\u2019s record inflows (+$5.3B).<\/strong> Despite lagging European equity inflows in October, year-todate flows into US equities are significantly higher, at $10B YTD.<\/li>\n
- Investors have continued to sell emerging market (EM) equities for a third consecutive month, with $0.3B of outflows in October.<\/strong> These outflows come despite an apparent deescalation in global trade tensions, but the October figure does mark a slight improvement from September (-$1B).<\/li>\n<\/ul>\n
Quality fixed income<\/strong><\/p>\n\n- Investors continued to favour quality in fixed income in October: investment grade (IG) and rates gained the lion\u2019s share of flows, with +$1.2B and +$1.8B respectively,<\/strong> while investors continued to sell high yield (-$0.1B). Rates and IG have not had a negative flow month so far this year \u2013 this 10 month streak has been their longest on record.<\/li>\n
- EMEA investors have favoured fixed income exposures throughout the year and YTD net flows stand at $55B.<\/strong> In comparison, equity inflows have totalled $30B YTD.<\/li>\n
- Emerging market debt (EMD) gained another $0.9B in October. Investors favoured local currency ETPs (+$0.8B), while selling hard currency ETPs (-$0.1B).<\/strong> Investors had favoured LC early this year, but sold the exposure heavily in May. More recently, sentiment has begun to revert.<\/li>\n<\/ul>\n
Value in vogue<\/strong><\/p>\n\n- Value ETPs gained $0.4B in October \u2013 the biggest monthly inflow into the exposure this year \u2013 sending the factor\u2019s YTD flows back into positive territory.<\/strong> Value only gainedinflows of similar magnitude in March 2019, when investors bought $0.3B. Investors sold minimum volatility (min vol) ETPs for a second consecutive month (-$0.2B), although min vol remains the most popular factor this year with net inflows of $3.3B YTD.<\/li>\n
- Commodity flows picked up to $1.6B after dropping to $0.7B in September.<\/strong> The majority of inflows were allocated to gold ($1.2B) amid market volatility. Silver flows were flat for October but recovered from the -$0.1B of outflows in September.<\/li>\n<\/ul>\n
Source: ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"
BlackRock ETP Landscape: October marked another strong inflow month for EMEA-listed ETPs with $15B invested, albeit down from $20B of inflows in September….<\/p>\n","protected":false},"author":4,"featured_media":20429,"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":[231],"tags":[311,196],"class_list":["post-20522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf-monthly-analysis","tag-blackrock-etp-landscape","tag-etp"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/20522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/comments?post=20522"}],"version-history":[{"count":4,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/20522\/revisions"}],"predecessor-version":[{"id":20526,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/20522\/revisions\/20526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media\/20429"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media?parent=20522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/categories?post=20522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/tags?post=20522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}