European ETP activity fell last week as equity markets finished higher, having dipped mid-week. The Eurostoxx 50 finished up 4.1%, while the S&P 500 was up 2.1%.
On-exchange ETP turnover fell to €14.8bn, a decline of almost 12% compared to the previous week, according to Lyxor. Regional and strategy ETFs experienced the largest declines; 20% and 32.7%, respectively.
Commodity flows show resilience, with a decline of less than 10%; while sector, style, currency and alternative ETPs were the only categories to see increased activity. Alternatives saw the largest increase - almost 35%.
Trading firm Cowen reports declining primary ETF market volumes; it attributes this to a fall in iShares S&P 500 ETF creations.
There were continued sell-offs in Asia and emerging markets ETFs, overall emerging markets equities ETFs had $3.3bn of outflows; their 10th consecutive week of outflows and the largest in eight weeks. Total global equity ETF outflows were $10.2bn. Europe equity ETFs saw small inflows of $0.4bn.
Fixed income ETFs, meanwhile, saw the biggest flows in seven weeks at $2.8bn. Half of these were from high yield bond ETFs, half from emerging markets bonds ETFs.
Physically-backed silver ETF holdings increased to 563.96 million oz on Friday from 4.58 million oz on the week. Gold ETF holdings fell by 114,064oz to 71.05 million oz.
An ambitious objective
'Something completely new'
'Illusion of control'
Reasons to be cheerful
Total investment reaches £9m