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Amundi ETF: Market Flows analysis Europe and World – June 2019

Amundi ETF

Amundi ETF has attracted more than €4.3 billion in net inflows since the beginning of the year…

This represents close to 15% of all net new ETF assets in Europe, and ranks Amundi number 3 for year-to-date flows.

Highlights in Amundi ETF net inflows since January 2019:   

  •  US and North Am equities, with close to €2bn of NNA (90% of total market flows)
  • Emerging markets equities, with more than €1bn of NNA (20% of total market flows)
  •  Eurozone core govies, attracting more than €40m of NNA (Vs -€51m of total market flows)

Global Flows in June 2019

  • Total net flows: +€66bn
  • Equities: +€27bn
  • Corporate debt: +€15bn
  • North American Equities: +€17bn

Net new assets for the Global ETF market return to positive territory in June.

Equity flows, which suffered most last month turned positive again in June with +27bn€ of inflows.

These flows were mainly driven by North America +17bn€ stocks, followed by Sectors and Smart Beta +4.5bn€, Japanese +4.4bn€ and Emerging Markets +2.3bn€ exposures.

Following the same path as previous months, fixed income flows are still strong and net new assets tripled over the month to more than +36bn€.

Within the asset class, investors’ attention turned back to Corporate Debt with +15.2bn€ of net new assets gathered in June.

While Government Debt ETFs remain in a good place, gathering more than +12bn€ in flows, which is three times more than in May.

European flows in June 2019

Total net flows: +€2.5bn

 Equities: -€3.5bn

Within the equity space Europe has suffered with redemptions of -745m€ over the month.

US and North American stocks, which led the way last month are still doing well and attracted +890m€ of net new assets.

On sector and factor exposures, the bias remains defensive: investors favour Real Estate +246m€ and low-volatility stocks +536m€, to the detriment of financials and small caps.

The attention for SRI keep growing fast in Europe, where net new assets gathered more than +575m€ of flows for sustainable ETFs during the month, driven by global exposures, followed by US and North America, and Emerging Markets exposures.

Bonds: +€6bn

On the fixed income side Eurozone corporate debt leads the way with 2.5bn€ over the last month.

Followed by High Yield Eurozone exposures, with more than 1bn€ of inflows.

If we look into government debt we can see that Investors have regained their enthusiasm for US, Eurozone and Germany, driving the asset class back to positive territory compared to the previous month, totaling close to 880m€ inflows.

Just like for equities, the United States carries the most favour in the market, with close to 490m€ invested in US treasury bills last month.

Source: ETFWorld