{"id":55483,"date":"2023-11-14T10:18:39","date_gmt":"2023-11-14T10:18:39","guid":{"rendered":"https:\/\/www.etfworld.com\/co.uk\/?p=55483"},"modified":"2023-11-14T15:11:17","modified_gmt":"2023-11-14T15:11:17","slug":"blackrock-global-etp-flows-october-2023","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/co.uk\/blackrock-global-etp-flows-october-2023\/","title":{"rendered":"BlackRock Global ETP Flows October 2023"},"content":{"rendered":"
BlackRock Global ETP Flows<\/strong> : Holding steady: $66B was added to ETPs globally in October, in line with the $65.7B added in August and $65.5B added in September.<\/h5>\n

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BlackRock Global ETP Flows October 2023
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Annemarie Stephenson<\/span>, Co-Head iShares UK Asset Manager Sales<\/span><\/strong><\/p>\n

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Fixed income flows trump equities:<\/strong> equity flows fell from $52.7B in September to $34.3B in October, while fixed income (FI) buying almost doubled from $15.5B to $30B. Flows into both asset classes were largely in line with this year\u2019s average monthly levels ($36.9B for equites and $26.1B for FI).<\/p>\n

Across the curve:<\/strong> after a drop off in buying of long-term US rates and a jump in short-term exposure inflows in August and September, flows into short and long-term were almost on par in October ($12.6B and $10.4B, respectively).<\/p>\n

A high rate of buying<\/strong><\/p>\n

The pickup in fixed income flows came from a surge in rates buying, with $30.4B added \u2013 the highest since March ($35.2B) and nearly double the $16.9B added in September. US rates ETPs took the bulk of the inflows ($29B), with $0.9B added across European rates ETPs. Of this, $0.7B went into broad European rates and a net $0.2B into single country exposures. Similar to 2022, core European ETPs (Germany and France) have been the clear preference for ETP investors seeking euro area rate exposure this year, with a cumulative $1.4B added YTD \u2013 on track to be the highest inflow year on record, and significantly above the $0.2B added to peripheral Italian and Spanish government bond ETPs. Outflows from emerging market debt accelerated, with $3.2B of selling in October \u2013 the largest outflow month since September 2022.<\/p>\n

Here for the duration<\/strong><\/p>\n

Digging deeper into US rates, October flows swung back towards the trend we saw between April-July, when $24.2B was added to long-term exposures vs. $4.2B into short-term. The trend briefly flipped over August-September, with $13.8B added to short-term vs. $5.5B into long-term. In October, buying across the curve was almost on par, with $10.4B into long-term vs. $12.6B into short-term.<\/p>\n

In the credit ETP space, outflows from investment grade (IG) accelerated in October, with $4.6B of selling alongside $5B of high yield (HY) outflows. IG outflows since August have mostly come from USD exposures, where $8.4B of the $15B gathered between January-July has now gone out. EUR IG flows have proven stickier: of the $10.2B added from January-July, only $2B has gone out, including $1.5B in October.<\/p>\n

Japanese equities remain in favour<\/strong><\/p>\n

On the regional level, US exposures led equity flows, with $24.3B added, but two trends stood out in October flows. Firstly, we saw net outflows from emerging market (EM) equities (-$1.7B) for the first time since Q2 2021. Secondly, there was a tentative return to European equities ($0.4B), after six consecutive months of outflows totalling -$10.5B. Flows into European equity ETPs were driven by EMEA-listed funds ($2.3B), offsetting the $1.9B of outflows from US-listed funds. Broad European exposures were in favour ($0.5B), with the largest inflows since May this year. In European single countries, Switzerland ($0.3B) and the UK ($0.2B) led the way.<\/p>\n

Meanwhile, buying of Japanese equity ETPs continued in October, with $3.6B added. This included $0.9B into EMEA-listed ETPs \u2013 the highest inflows since June, reversing the $0.7B of EMEA-listed outflows in September. Momentum in US-listed flows appears to have taken a back seat, with buying flat in September and October.<\/p>\n

In precision exposures, energy and tech continued to lead sector ETP flows, with $3B and $1.6B of inflows, respectively. Financials recorded a third consecutive month of outflows at the global level (-$2.4B), driven by selling of US exposures (-$3.2B) \u2013 which saw their highest outflows since September 2022. Japanese financials, on the other hand, continued to gain inflows, with $1.9B added YTD \u2013 already surpassing the $1.5B and $1.2B added in 2022 and 2021, respectively.<\/p>\n

Source: ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock Global ETP Flows : Holding steady: $66B was added to ETPs globally in October, in line with the $65.7B added in August and $65.5B added in September.<\/p>\n","protected":false},"author":4,"featured_media":55114,"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":null,"_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":[197,407,196],"class_list":["post-55483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etf-monthly-analysis","tag-blackrock","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\/co.uk\/wp-json\/wp\/v2\/posts\/55483","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=55483"}],"version-history":[{"count":1,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/55483\/revisions"}],"predecessor-version":[{"id":55484,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/55483\/revisions\/55484"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media\/55114"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media?parent=55483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/categories?post=55483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/tags?post=55483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}