Highlights from BlackRock ETP Landscape report: July 2017

July global ETP flows lead to a new annual record for equity funds….

Patrick Mattar, from the capital markets team at iShares

    Industry flows of $39.6bn brought the year-to-date total to the verge of a new annual record and were driven by $25.8bn for equity funds, which pushed the year-to-date total for the asset class to a new full-year high of $257.8bn.

    Fixed income brought in another $13.7bn led by investment grade corporate, which gathered $4.8bn to push year-to-date flows to $35.4bn, topping the annual record set in 2016.

Patrick Mattar, from the iShares EMEA capital markets team at BlackRock, comments on the five key stories behind the European ETP flows in July 2017:

  1. Europeans LOVE Europe

 “July was yet another strong month for European equities. The $3.7bn that went into EMEA-listed ETFs mean there have now been eleven consecutive months of European equity ETPs inflows – the longest inflow run on record.”

  1. Credit where credit’s due

 “Investment grade (IG) credit has been an area of focus in fixed income ETPs globally this year, attracting $36.6bn (or 35%) of the total $105.5bn that has flowed into all fixed income ETPs. EMEA-listed $IG ETPs are on a run of seven straight inflow months and €IG ETPs now have three straight months of inflows since the French presidential election.”

  1. Bronze for Bolt, gold for Europe

 “We have previously highlighted that US and EMEA investors appear to have had opposing views on gold this year. In July, the pattern of the US selling coinciding with Europe buying (and vice versa) was even more pronounced. In four out of seven months this year there have been net outflows from US-listed gold ETPs, while EMEA-listed equivalents have attracted consistent inflows.”

  1. EMD interest cooling

 “EMEA-listed EMD funds had their weakest month of the year in July, attracting $0.7bn; this is the first month of the year where the inflows have been less than $1.0bn. EMD strength has been a key theme this year but recent performance means some investors appear to be cooling their interest in the asset class. Despite this, EMD was yet again the strongest category in fixed income flows, showing that on a relative basis investors are continuing to allocate to the asset class at scale.”

  1. Investing for good

 “European investors are ahead of the US when it comes to ESG ETPs. Of the $5.7bn inflows since the end of 2009, $3.8bn flowed into EMEA-listed funds. Changing end investor attitudes and guidelines suggesting ESG usage from certain regulators in European countries may be contributing to this trend.”



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