Global ETP inflows hit $33.5bn in April, says BlackRock
Year-to-date inflows in Europe bigger than those for the whole of 2013; Lyxor lists first ETF to track Euronext CAC PME index; commodity ETPs helped by precious metals and agriculture; ETFs tracking the healthcare sector see assets pass $1 billion
Global exchange-traded product (ETP) inflows surged to a six-month high of $33.5 billion in April, representing the best April on record for the industry, according to figures from BlackRock. Europe-listed ETPs have attracted more assets in the first four months of 2014 than 2013 as a whole, resulting in $20.6 billion in inflows year to date. Emerging markets equity exhibited the single largest rebound, accounting for $5.9 billion when measured in terms of broad exposures. The highest flows in April were $700 million in funds with exposure to India, which held general elections in May. Flows into Chinese equity ETPs were modest at $300 million. Growth expectations for China remain attractive relative to the rest of the world, but recent economic data has reportedly softened and affected investor confidence to a degree.
Lyxor Asset Management has listed the first exchange-traded fund (ETF) on Euronext's CAC PME index. The index was launched by Euronext in March and is based on the French government's initiative aimed at encouraging investment in shares and support for financing of small and medium-sized enterprises.
Commodity prices as measured by the DJ-UBS Commodity index rose by 7% in the first quarter while commodity ETPs saw their first quarterly inflows after four consecutive quarters of outflows. The latest figures from ETF Securities reveal that total assets invested in commodity ETPs increased to $122.4 billion by the end the first quarter, up from $122.1 billion at the end of last year, with precious metals, agriculture and industrial metals registering the bulk of inflows.
The five ETFs that track the healthcare equipment and services sector have seen their cumulative assets under management pass the $1 billion mark for the first time this year, according to Markit. These funds have already surpassed last year's inflow total, with $345 million of net inflows in the first five months of the year. The sector is heavily shorted however, with short interest at 4.3%, according to the financial information company.
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