Global ETP Flows January 2020<\/strong><\/p>\n
\nThe drop in flows from December can be attributed to less buying in equity ETPs, as fixed income and commodity flows increased month-on-month. Fixed income ETPs gathered $24.9B, marginally up from December ($24.4B), while commodities reversed the -$0.2B outflows in December with $5.1B of inflows \u2013 c.60% of this went into gold ETPs.<\/p>\n
Key themes in January:<\/strong><\/span><\/p>\n\n- Buying broad:<\/strong> broad developed market (DM) equity flows increase<\/li>\n
- Coming off highs<\/strong>: high yield (HY) flows fall to $0.2B<\/li>\n
- A golden start:<\/strong> gold flows increase tenfold<\/li>\n<\/ol>\n
Buying broad<\/span><\/strong><\/p>\n\n- Inflows into equity ETPs, while remaining positive, reduced across most exposures<\/strong> in January. Buying in US equities fell by around 60%, to $14.0B, while EM equity flows dropped from $17.1b in December to $5.5B.<\/li>\n
- Broad DM equity ETP flows were an exception, remaining steady for the third consecutive month at $13.4B.<\/strong> Flows into Japanese equity ETPs increased significantly from $0.8B in December to $4.6B in January \u2013 although most of this went into APAC-listed funds and can be attributed to c.$4B of buying by the Bank of Japan. Inflows into EMEA-listed Japanese equity ETPs fell to just $0.2B, while outflows from US-listed Japanese equity ETPs increased to -$0.6B.<\/li>\n
- The UK wasn\u2019t alone in leaving the European Union in January,<\/strong> as investors sold Eurozone and German equities, contributing to the first outflow month for European equities since August (-$1B). Flows displayed a domestic selling bias, with EMEA-listed European equity ETPs registering outflows while US-listed counterparts gained inflows of $0.3B.<\/li>\n<\/ul>\n
Coming off highs<\/span><\/strong><\/p>\n\n- Buying in fixed income was quite varied in January,<\/strong> with multisector ETPs \u2013 those tracking broad bond indices that span across ratings \u2013 proving most popular, with $8.9B of inflows. Emerging market debt (EMD) and investment grade (IG) flows also picked up, helping to offset a drop in interest in HY \u2013 where inflows fell from $2.9B in December to just $0.2B in January.<\/li>\n
- Reduced interest in HY in January comes after a bumper 2019 for the exposure;<\/strong> HY registered inflows in each quarter last year for the first time (a record $25.5B was added overall). Inflows into European HY and DM HY on the whole last month offset outflows from US HY.<\/li>\n
- IG flows, on the other hand, have been fairly consistent since January 2019,<\/strong> with only one outflow month over this period, in August 2019. Inflows of $4B in January went predominantly into US-focused IG, while money was also added to eurozone and global exposures. UK IG lost $0.2B \u2013 the third outflow month for the exposure in the past four.<\/li>\n<\/ul>\n
A golden start<\/span><\/strong><\/p>\n\n- Silver registered its first inflow month in five<\/strong> with $52m of inflows in January, as increased market volatility led investors back to precious metals.<\/li>\n
- Gold flows increased tenfold to $3.1B from $0.3B in December,<\/strong> which came after outflows of $1.4B in November. Flows were tilted into EMEA-listed gold ETPs, which gathered $1.7B, leading US-listed flows for a second consecutive month \u2013 US gold ETPs gained $1.4B in January, following flat flows in December.<\/li>\n
- Crude oil ETP flows also jumped back into positive territory<\/strong> with $0.9B of inflows in January, following two months of outflows. January\u2019s flows were also the highest monthly inflow since November 2018. Investors didn\u2019t really warm to the commodity last year, with $2.4B of outflows, $1.2B of which came in November and December.<\/li>\n<\/ul>\n
Source: ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"
BlackRock ETP Landscape: Global flows into ETPs remained strong in January, with $66.5B added, down from a bumper $85.8B of inflows in December (the second highest inflow month on record)……<\/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-20998","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\/20998","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=20998"}],"version-history":[{"count":4,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/20998\/revisions"}],"predecessor-version":[{"id":21002,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/20998\/revisions\/21002"}],"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=20998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/categories?post=20998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/tags?post=20998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}