In the BlackRock ETP Landscape series of reports, the Industry Highlights provides commentary on the global Exchange Traded Product (ETP) industry as of January 2015.
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January ETP Flows Highlighted By Strength For Non-U.S. Developed Markets Equities And Fixed Income
- Global asset gathering moderated from recent months to $11.6bn, with significant inflows for Europe equity and corporate bonds diverging from heavy redemptions for U.S. large cap and EM equity
- The more aggressive than expected ECB quantitative easing announcement was well received by the market, contributing to record flows of $8.4bn for pan-European equity and $13.7bn for Europe-listed ETPs
- Exchange rate movements, particularly U.S. dollar appreciation against the euro, led to a new monthly high of $6.9bn for currency-hedged ETP flows, which were concentrated in Europe and EAFE equity exposures
- Equity market volatility, uncertainty surrounding global growth and the ECB stimulus news all supported ongoing demand for fixed income funds, which gathered $13.0bn, and kept downward pressure on interest rates
Sources: BlackRock, Bloomberg.
