Blackrock Global ETP Landscape: February 2015

·  Global ETP flows of $50bn represented the fourth best month on record and lifted the year-to-date total to $62.3bn, with investors increasingly favouring non- U.S. equity and corporate bonds over relatively safer categories…..

Marchioni Ursula – Head of ETP Research EMEA at iShares

·         Pan-European equity exposures brought in a new monthly high of $8.9bn and year-to-date flows have already exceeded the peak from last year, helped by the ECB bond purchase announcement and a weakening euro

·         Fixed income flows strengthened to $17.8bn led by a new monthly record of $5.2bn for high yield corporate bonds as the search for yield intensified

·         Emerging markets equity funds showed signs of stabilization, gathering $2.7bn to snap a five-month streak of outflows as the accommodative monetary policies of many central banks and lower oil prices aided broad EM, China and India funds

·        U.S. stocks rallied and U.S. equity ETP flows rebounded after heavy redemptions in January, though they were still modest compared to other exposures at $3.9bn

Ursula Marchioni, Head of ETP Research, said:

“February saw $50bn flow into the global ETP industry, driven by tailwinds from the ECB’s QE announced in January and softening tensions between Greece and the rest of Eurozone. Fixed income ETPs led the trend with inflows of $17.8bn for the month, followed by European equity exposures with $11.5bn.”

“Fixed income ETPs have gathered $31bn year-to-date in 2015, a record pace that beats the previous peak registered in 2014. Investment Grade and High Yield corporate bond ETPs were the main drivers, with $15.7bn of inflows combined, as the hunt for yield continues in the credit space. In the equity space, European ETPs accounted for $22bn year-to-date globally – representing the lion share of the $26bn gathered from all developed market equity ETPs year-to-date.”

“Europe-domiciled ETPs had a strong February, with inflows exceeding $10bn for the second month in a row. Total assets under management for these products reached $491bn, driven by European equity ETPs listed locally which have gathered $12.5bn since the start of 2015 – this is more than the total inflows recorded over the last three years combined (2012-2014).”


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