EMEA-listed ETP Flows September 2019<\/strong><\/p>\n
\nThis followed a record outflow month in August. $13.9B went into equity ETPs in September (reversing the $13B lost amid market volatility in August), $5.1B into fixed income and $0.8B into commodities.<\/p>\n
Key themes this month<\/strong>:<\/p>\n\n- European equities go back to black: European equities notch up inflows<\/strong><\/li>\n
- A bIG streak: nine months of inflows for investment grade<\/strong><\/li>\n
- Investors turn cold on min vol: dropping interest in minimum volatility<\/strong><\/li>\n<\/ol>\n
European equities go back to black<\/strong><\/p>\n– European equities notched up the largest monthly inflow since February 2018,<\/strong> with $3.7B added in September. This marks the first quarterly net inflow since Q3 2018, when $2.4B flowed in. YTD flows are still well into negative territory at -$8.3B, as heavy selling from March-June has not yet been reversed.<\/p>\n– Elsewhere, record inflows continued as investors also turned to US equities<\/strong>, with the exposure gathering $5.3B \u2013 the largest monthly inflow on record, in comparison to just $98m of inflows in August. To put this in context, prior to September, YTD flows into US equities stood at $4.5B.<\/p>\n– In contrast, investors sold emerging market (EM) equities for a second consecutive month (-$1B).<\/strong> This marks the third outflow month for the exposure this year, albeit significantly less than the -$3.7B outflows in August. It is worth noting that global investors turned incrementally more negative on EM earlier in the year than EMEA investors.<\/p>\nA bIG streak<\/strong><\/p>\n– In fixed income, inflows were once again well spread between investment grade (IG) with $1.4B, emerging market debt (EMD) with $1.2B, and rates with $1.2B,<\/strong> while investors sold high yield (HY) for only the second time this year (-$120m). IG has now notched up nine consecutive months of inflows, in the longest inflow streak since February 2016. IG is still the most popular fixed income exposure this year, with $16.1B of inflows YTD out of $50.1B total flows into fixed income ETPs.<\/p>\n– Inflows into rates were predominantly into short and intermediate-term ETPs<\/strong> \u2013 almost entirely USTs \u2013 with longer-term ETPs gathering just $141m. Total flows into rates, while still positive, were down significantly from the previous month ($2.2B in August).<\/p>\nEMD inflows offset the $1B lost in August,<\/strong> and were once again skewed towards hard currency ETPs, which have proved to be more popular among investors since June. Local currency ETPs also gathered assets, in the region of $370m.<\/p>\n Investors turn cold on min vol<\/strong><\/p>\n– Investors sold minimum volatility ETPs in September for the first time since May 2018<\/strong> amid broad outflows across factors. $0.3B was lost following on from $0.5B added in August, against the global trend. The factor has been the most popular this year by far, with YTD inflows standing at $3.5B in EMEA and $25B globally. Quality, the next most popular factor, has gathered $1.1B YTD.<\/p>\n– Commodity flows simultaneously dropped to the lowest level in four months, with $0.8B added in September,<\/strong> compared to at least $1.7B added in each of the prior three months. Once again, buying in gold was the driver, accounting for 80% of the inflows. Silver ETPs, which have been popular since June, lost $0.1B, essentially cancelling out the $0.1B of inflows in August.<\/p>\nSource: ETFWorld<\/p>\n
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BlackRock ETP Landscape: September marked a return for inflows into EMEA-listed exchangetraded products (ETPs), with $20B of inflows, smashing the previous record set in July….<\/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-20426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maandelijkse-etf-analyse","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\/nl\/wp-json\/wp\/v2\/posts\/20426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/comments?post=20426"}],"version-history":[{"count":2,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/posts\/20426\/revisions"}],"predecessor-version":[{"id":20430,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/posts\/20426\/revisions\/20430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/media\/20429"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/media?parent=20426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/categories?post=20426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/nl\/wp-json\/wp\/v2\/tags?post=20426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}