Amundi ETF : In November, the ETF market remained in a positive scenario across the globe, and investors’ attention focused massively to equity exposures…..
Global Flows in November 2019
- Total net flows: + €66 bn
- Equities: + €50 bn
- Fixed Income +€16 bn
- North American Equities: +€21.4 bn
Equity ETFs saw more than +50bn€ of net new assets worldwide. In line with last month trend, these inflows were driven by North America stocks that gathered this month +21.4bn€ net new assets, followed by World exposures (+8.5bn€), Sectors & Smart beta (+8.2bn€) and EM exposures (more than +7bn€ of net new assets).
Fixed income ETFs keep on attracting positive flows (+16bn€). This month investors preference shifted from Government Debit (+3.5bn€) to Aggregate (+6.3bn€) and Corporate (+5bn€) bonds.
European Flows this month highlights
Equities : + €11 bn
- European flows were characterised by the same positive trend as at global level. Looking at specific exposures, differently from global flows, on the European ETF market World equity ETFs lead the inflows, with +2.7bn€, followed by EM ETFs (+2bn€). Differently from October, in November North American exposures saw higher inflows of close to +2bn€.
- SRI equity ETFs kept on attracting consistent flows, with close to +1.3bn€ net new assets.
- Smart beta ETFs gathered higher flows compared to last month, of +1.7bn€. Inflows focused on Value exposures (+1.2bn€) and Size exposures (+671m€). Meanwhile Min Vol ETFs suffered -834m€ outflows.
- Within sectors, Real Estate remained in a positive scenario (+223m€), while, Consumer Staples suffered outflows of -111m€.
Bonds : + €3 bn
Fixed Income flows also remained positive in Europe.
- In line with what was observed at global level, Corporate bonds were popular among investors with +2.2bn€ inflows. Investors preferred in particular Eurozone bonds, which gathered +1.6bn€ of net new assets, followed by HY USA exposures that saw more than +300m€ of inflows.
- Government debt also saw positive flows and attracted +815m€ net new assets. During the month investors turned their attention to EM debt exposures, that gathered close +1bn€. US short term exposures saw steady flows with close to +228m€ net new assets.
- The SRI Fixed Income ETFs attracted +328m€ of inflows during the month in Europe.
After various months of inflows, Gold funds saw some outflows (-168m€) in November.