ETF

The surge in the demand for gold over the second quarter was fuelled by the growing use of ETFs, the World Gold Council says.

If you have been reading the national press in recent weeks you could be excused for thinking the actively managed fund industry was on its last legs.

On-exchange turnover in the European ETF industry has reached an all-time high, fuelled by fluctuating markets and investor uncertainty, Lipper says.

The use of ETFs among Asian investors is likely to increase by up to 30% a year, in line with the expected growth rate for Europe, according to BlackRock.

Physical gold inflows have hit a 13-week high amounting to $236m, as investors turn defensive about the economic outlook, ETF Securities (ETFS) says.

The global market for fixed income ETFs is on target to hit $200bn next year, according to iShares.

Commerzbank is due to launch ComStage ETFs in the UK for the first time in September.

State Street Global Advisors (SSgA) has reported its SPDR range of ETFs in Australia has reached A$3bn (US$2.7bn) in assets under management.

Exchange-traded products (ETPs) based on copper have seen high inflows, while gold ETPs have experienced outflows as sovereign risk fears in Europe abate, according to ETF Securities (ETFS).

Hedge fund specialist Qbasis has received approval from the FSA to release its managed futures ETF in the UK.