{"id":60003,"date":"2024-05-15T14:00:41","date_gmt":"2024-05-15T13:00:41","guid":{"rendered":"https:\/\/www.etfworld.com\/co.uk\/?p=60003"},"modified":"2024-05-16T14:00:58","modified_gmt":"2024-05-16T13:00:58","slug":"blackrock-global-etp-flows-april-2024","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/co.uk\/blackrock-global-etp-flows-april-2024\/","title":{"rendered":"BlackRock Global ETP Flows April 2024"},"content":{"rendered":"<h5 style=\"text-align: justify;\"><strong>BlackRock Global ETP Flows<\/strong> : Flows into rates ETPs rose to the highest level since October, with 10.1B added in April.<\/h5>\n<p style=\"text-align: justify;\"><!--more--><\/p>\n<p style=\"text-align: justify;\"><a href=\"\/newsletter\" class=\"broken_link\"><strong>Sign up to our free newsletters<\/strong><\/a><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><strong>BlackRock Global ETP Flows April 2024<br \/>\n<\/strong><\/p>\n<hr \/>\n<p><strong>Laura Cooper, senior macro investment strategist for iShares EMEA at BlackRock<\/strong><\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><strong>Rates rise:<\/strong> fixed income (FI) flows rose to $27.4B in April, as rates flows picked up and emerging market debt (EMD) turned positive for the first time this year.<\/p>\n<p style=\"text-align: justify;\"><strong>Muted flows:<\/strong> $68.5B was added to global ETPs in April, amid a broader slowdown in equity buying to $40.7B from $106.3B in March. Commodity flows flipped back into negative territory (-$1.9B) due to persistent selling of gold.<\/p>\n<p style=\"text-align: justify;\"><strong>Europe and Japan in favour:<\/strong> European equity ($8.2B) saw a third consecutive month of net buying, while Japanese equity ($6.9B) recorded the largest monthly inflows since June 2023.<\/p>\n<p style=\"text-align: justify;\"><strong>Rates pick back up<\/strong><\/p>\n<p style=\"text-align: justify;\">Flows into rates ETPs rose to the highest level since October, with 10.1B added in April. The pickup in buying came across listing regions. Among EMEA-listed rates ETPs, buying was relatively evenly split between European and US exposures: $1.1B went into US rates, while just over $1.2B was added to eurozone rates. Gilts ETPs also notched up a second consecutive month of inflows, with $0.3B added. Eurozone rates flows largely went towards intermediate-term rates ($0.7B). Although EMEA-listed US rates flows showed a similar bias towards intermediate-term exposures ($0.5B), short-term flows were also positive ($0.4B).<\/p>\n<p style=\"text-align: justify;\">The entirety of US-listed rates flows went into US rates exposures ($5.3B), with flows into short-term exposures ($2.4B) turning positive for the first time since October and intermediate-term rates ($1.7B) making up the bulk of the remaining flows.<\/p>\n<p style=\"text-align: justify;\">Elsewhere in FI, EMD flows ($2.7B) turned positive for the first time this year. This was driven by an increase in US-listed EMD buying ($1.2B), while EMEA-listed EMD notched up a third outflow month (-$0.3B).<\/p>\n<p style=\"text-align: justify;\"><strong>A spring cycle<\/strong><\/p>\n<p style=\"text-align: justify;\">Sector flows continued to show a cyclical bias in April: while tech flows picked up to $2.4B and represented the single largest sector flow, financials flows rose to $1.8B \u2013 the highest level since December \u2013 and industrials ($1.0B) and energy flows ($0.5B) also stayed positive. At the same time, health care flows stayed negative (-$2.3B) for the second consecutive month, while materials flows flipped to negative with $0.5B out.<\/p>\n<p style=\"text-align: justify;\">Factor flows continued to show a quality bias, with a further $3.3B added to quality ETPs in April. Value flows also remained persistent, with $1.1B added in April, slightly down from $1.3B in March \u2013 with US-listed value inflows leading the way.<\/p>\n<p style=\"text-align: justify;\"><strong>Home bias \u2013 except in Japan<\/strong><\/p>\n<p style=\"text-align: justify;\">The global trend of declining US equity flows held true for EMEA-listed flows in April, with EMEA-listed US equity flows falling progressively MoM from $7.8B in January to $1.3B in April. At the same time, European equity flows have stabilised globally, with three consecutive months of inflows (with a cumulative $8.2B added from February to April). EMEA-listed flows into US equities continued to favour large caps.<\/p>\n<p style=\"text-align: justify;\">European equity inflows spanned EMEA and US listing regions, but with more domestic buying: $2.2B went into EMEA-listed European equity in April, versus $0.8B into US-listed exposures. US-listed flows into European equities have tilted towards large caps, while domestic investors have favoured cyclical exposures \u2013 the pickup in small caps seen in March continued into April ($0.4B), while European financials also saw inflows of $0.6B.<\/p>\n<p style=\"text-align: justify;\">Japanese equity flows also picked up in April, with $6.9B added \u2013 the highest level since June 2023 \u2013 off the back of a rise in US- ($0.7B) and EMEA-listed flows ($1.3B). This takes non-APAC buying of Japanese equities to $7.1B YTD<\/p>\n<p style=\"text-align: justify;\">Source: ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlackRock Global ETP Flows : Flows into rates ETPs rose to the highest level since October, with 10.1B added in April.<\/p>\n","protected":false},"author":4,"featured_media":52857,"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":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_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-60003","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\/60003","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=60003"}],"version-history":[{"count":1,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/60003\/revisions"}],"predecessor-version":[{"id":60004,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/60003\/revisions\/60004"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media\/52857"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media?parent=60003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/categories?post=60003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/tags?post=60003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}