GLOBAL ETP FLOWS REACH $20.8BN IN MAY DRIVEN BY FIXED INCOME AND EUROPEAN EQUITY
May global ETP flows were marked by demand for fixed income and non-US equity as interest rates fell further and investors continued to search for relative value outside the US.
Global fixed income inflows of $14.1bn were paced by longer duration US Treasuries and investment grade corporate funds and also extended to categories offering enhanced income such as high yield and emerging markets debt.
Fixed income ETP flows are on track for a record year as assets have doubled since 2010, passing the $400bn milestone.
Overall equity ETP inflows of $6.9bn moderated from March and April.
European equities gathered $4.6bn helped by expectations for ECB stimulus and are on pace for their best year since 2009.
Emerging markets took in $2.7bn as the MSCI EM index continued its rebound.
US equity outflows totaled ($5.1bn) as ongoing momentum for large cap value, energy and real estate was offset by small cap redemptions.
Sources: BlackRock, Bloomberg.
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