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\nGlobal ETP Flows September 2021<\/strong><\/p>\n
\n$82.4B was added to global ETPs in September, slightly down on August\u2019s $96.5B. <\/strong><\/p>\nEquity inflows dipped again to $59.4B (vs. $67.5B in August), but remained positive despite market volatility. <\/strong><\/p>\nFixed income flows also fell slightly ($23.0B), and commodity ETPs recorded another minor outflow month (-$2.0B).<\/strong><\/p>\nKey themes in September:<\/strong><\/span><\/p>\nEM picks up<\/strong><\/span><\/p>\n Emerging market (EM) equity flows led the gains with $8.9B of inflows<\/strong><\/span>, making September the largest inflow month for the exposure since March. The pickup in EM came alongside a fall in US equity flows to $28.2B (from $48.5B in August), while European equity flows fell flat, hitting the lowest level since October 2020 \u2013 the last time there were net outflows from the exposure.<\/p>\n Delving deeper into the EM equity flows<\/strong><\/span>, almost half were into US-listed EM equity ETPs, which have accounted for the majority of EM equity flows YTD, while EMEA-listed ETP flows picked up to $1.2B. In line with the overwhelming trend seen over the summer, EM ETP flows were heavily tilted towards single exposures ($6.1B), specifically China.<\/p>\nCredit flows continue<\/span><\/strong><\/p>\n Credit flows continued in September<\/strong><\/span>, with $2.4B added to investment grade (IG) and $1.7B to high yield (HY) exposures. HY flows increased to the highest level since April ($3.0B), while the pace of buying in IG dropped from August\u2019s $6.4B.<\/p>\n The drop-off in headline IG flows masks a pickup in EMEA-listed flows to $2.5B<\/strong><\/span> \u2013 the highest level since February \u2013 with weaker sentiment towards US-listed exposures driving the drop-off. EMEA-listed buying continued to account for the majority of the inflows into global HY ETPs for a second consecutive month ($1.4B in September).<\/p>\n Special mention once again goes to inflation-linked bonds<\/strong><\/span>, which have been consistently popular since May 2020 and notched up further inflows of $3.5B in September. Rates flows \u2013 which had been similarly steady up to September \u2013 dropped to $2.7B, vs. $5.3B in August.<\/p>\nFlows across the barbell<\/strong><\/span><\/p>\n In line with the barbell allocations<\/strong><\/span> we have seen reflected in sector flows over the past 18 months, September\u2019s two most popular sectors were tech and financials, with $1.8B and $2.7B added, respectively.<\/p>\n We have seen some unwinding of positions in cyclicals more exposed to the manufacturing restart<\/strong><\/span>, which looks to have peaked, with outflows from materials and industrials \u2013 although YTD flows into both sectors remain in positive territory, with $7.1B and $2.7B added to materials and industrials YTD respectively.<\/p>\n In factor flows, value staged a comeback in September<\/strong><\/span>, registering its first inflow month ($1.9B) since June. This came alongside the first net outflows from quality ETPs (-$0.6B) since March 2021, while momentum flows ($1.2B) rose to the highest level since January.<\/p>\n$100B into sustainable in 2021<\/strong><\/span><\/p>\n Despite falling slightly to $6.4B in September<\/strong><\/span> (vs. $8.0B in August), year-to-date global inflows into sustainable ETPs have now surpassed $100B. September was the second-lowest inflow month for sustainable ETPs in 2021, just above May\u2019s $6.0B. These lower levels were driven by European exposures, which fell to $4.0B for the month from August\u2019s $6.0B \u2013 almost on par with 2021\u2019s monthly low of $3.9B in May.<\/p>\n Within Europe, the lag in flows was most visible across ESG best-in-class and screened strategies<\/strong><\/span>. Clean energy strategies had the first outflow month in 2021 (-$38m). Although down month-on-month, best-in-class ESG variants ($2.0B) continued to dominate inflows into European-listed ESG ETPs. US equity strategies with an ESG tilt also registered inflows of $0.3B for September, while $0.2B was added to EM screened strategies.<\/p>\n Breaking down September\u2019s US-listed inflows of $2.5B<\/strong><\/span>, lower inflows into the dominant ESG-optimised strategies continued: while up on the previous month\u2019s $915m, the $987m added in September was down from higher levels seen prior to August. Screened strategies maintained their August momentum, posting a near-identical $0.4B for September \u2013 still just shy of their all-time monthly record of $0.5B set in February.<\/p>\nSource: ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"
BlackRock ETP Landscape: Global Flows in September – Equity inflows remained positive despite market volatility<\/p>\n","protected":false},"author":4,"featured_media":21172,"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-23411","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\/23411","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=23411"}],"version-history":[{"count":1,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/23411\/revisions"}],"predecessor-version":[{"id":23412,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/23411\/revisions\/23412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media\/21172"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media?parent=23411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/categories?post=23411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/tags?post=23411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}