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The BlackRock ETP Landscape, Industry Highlights, August 31, 2013, provides commentary on the Exchange Traded Products (ETPs) industry as of August 2013.
With uncertainty about economic growth and Federal Reserve policy, the Global ETP industry experienced outflows of ($15.0bn) in August, the second month of redemptions this year following very strong asset gathering in July.
- This is the largest monthly outflow on record for global ETPs. The previous monthly record for global ETP outflows was in January 2010, when the industry witnessed outflows of ($13.4bn).
- News that the Eurozone posted its first economic expansion in 18 months helped fuel record setting monthly flows of $4.7bn into Pan European Equity ETPs in August.
- Overall Equity ETP flows were negative at ($9.4bn) as US exposures lost momentum in August, registering outflows of ($14.5bn). However excluding significant SPY (SPDR S&P 500) redemptions of ($14.0bn), US Equity outflows were modest at ($0.5bn).
- Year-to-date Equity ETP flows were $138.5bn, still well ahead of last year’s pace.
- In the broader mutual fund space, market uncertainty helped fuel $52bn of flows into Money Market funds, the highest monthly total this year and $21bn higher than last month.
Sources: BlackRock, Bloomberg, EPFR.
