ETP Landscape: Washington drama drives Etf flows


Global ETP flows reached $32.9bn in October as the US debt ceiling was raised and the likelihood of Q4 Fed tapering faded under continued signs of slow US economic growth…..

– The combination of these factors plus additional signs of modest growth in Europe helped to boost flows into Developed and Emerging Markets Equities.
– The industry saw $24.3bn of inflows since October 17th, demonstrating investors were waiting for a resolution to the drama in Washington to move back into the market.
– Year-to-date flows of $194.2bn remain on pace with last year’s record level, a strong proof point for the secular growth of the industry during what has been a volatile year.
– October Equity flows of $35.9bn included $18.0bn from US exposures. Flows into non-US exposures eclipsed $15bn for the second month in a row. Year-to-date Equity flows of $201.3bn are 72% higher than year-to-date 2012 flows of
– Pan European funds accumulated $7.9bn, a third consecutive record-breaking month as valuations remain attractive relative to the US. A greater portion of these flows came from European-listed funds than in the prior two months.
– Emerging Markets flows reached $2.4bn, lower than in September but still supportive of the case that the category had been oversold earlier in the year.
– While Fixed Income ETPs experienced outflows of ($0.7bn) in October largely due to Treasuries, riskier credit exposures remained popular as the search for income and protection against rising interest rates continued. Flows into High Yield funds hit a 21 month high of $2.8bn and Floating-Rate ETPs brought in an additional $0.8bn.

Source: – BlackRock ETP Research

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