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t’d)<br />
the greatest<br />
in a small<br />
$130bn in August<br />
Year-to-date (YTD) flows are now $128.1bn, behind the<br />
previous record high of $139.9bn through August 2012.<br />
However, the 2013 composition remains much different<br />
with Equity gathering 80% more than last year, Fixed<br />
Income just a third as much and Commodity outflows<br />
adding a significant drag.<br />
Equity funds led with $138.5 billion which is 80% above<br />
last year’s pace of $77.1bn.<br />
uS and Japanese Equity exposures account for the<br />
bulk of the year-over-year Equity flow growth. Equity<br />
markets in both countries have been bolstered by<br />
accommodative Central Bank monetary policies.<br />
Research<br />
ETF-Research powered by<br />
The growth in year-over-year Equity flows was moderated<br />
by EM Equity outflows of ($11.1bn) YTD. The category<br />
had seen strong inflows in January of $10.9bn and then<br />
0<br />
shifted to outflows since February, with the exception of a<br />
(10.4)<br />
small positive uptick in July.<br />
Überblick über ausgewählte Mittelzu- bzw. -abflüsse nach Aktien- und Renten-ETFs<br />
Short Maturity funds (Floating rate, ultra-Short-Term<br />
Null J F M A M J J A<br />
and Short-Term) have been the engine for Fixed<br />
income flows this year, accumulating $29.3bn. Last<br />
gloBAl August, EQuiTY the duration CuMulATiVE picture ETP was FloWS completely 1 different with<br />
2013 YTD Flows: $138.5bn<br />
gloBAl CoMMoDiTiES CuMulATiVE ETP FloWS 1<br />
2013 YTD Flows: ($31.9bn)<br />
0<br />
gloBAl FiXED inCoME CuMulATiVE ETP FloWS 1,2<br />
2013 YTD Flows: $18.9bn<br />
20<br />
(11.1)<br />
Null J F M A M J J A<br />
29.3<br />
n August, but<br />
ecutive months<br />
lows reached<br />
ck below<br />
n, behind the<br />
ugust 2012.<br />
uch different<br />
ear, Fixed<br />
y outflows<br />
50<br />
Year-To-Date Overview<br />
gloBAl ETP YTD FloWS BY EXPoSurE 1<br />
0<br />
(US$bn)<br />
YTD inflows of $3.9bn for Short Maturity funds. 2 [ 4 ]<br />
100 88.1<br />
32.3<br />
29.1<br />
(11.1)<br />
Null J F M A M J J A<br />
0<br />
-10<br />
-20<br />
-30<br />
(0.2)<br />
Jan-Aug Jan-Aug Annual<br />
(31.8)<br />
2013<br />
2012 2012<br />
Null J F M A M J J A<br />
h is 80% above gloBAl FiXED inCoME CuMulATiVE ETP FloWS 1,2<br />
2013 YTD Flows: $18.9bn<br />
Quelle: BlackRock Asset Management, ETF Landscape Industry Highlights, Ende August 2013<br />
ount for the<br />
ONLY FOR ACCREDITED INVESTORS IN CANADA AND PROFESSIONAL 29.3<br />
INVESTORS IN OTHER REGIONS<br />
owth. Equity<br />
red by<br />
20<br />
licies.<br />
as moderated<br />
The category<br />
bn and then<br />
0<br />
exception of a Zu- bzw. Abflüsse des weltweiten ETP-Marktes der vergangenen (10.4) vier Jahre<br />
a-Short-Term<br />
or Fixed<br />
.3bn. Last<br />
y different with<br />
nds. 2<br />
Null J F M A M J J A<br />
Wachstumsraten gloBAl 300<br />
der ETP weltweiten CuMulATiVE ETF-Märkte FloWS 1<br />
YTD Flows in 2013: $128.1bn<br />
gloBAl CoMMoDiTiES CuMulATiVE ETP FloWS 1<br />
2013 YTD Flows: ($31.9bn)<br />
262.7<br />
2000<br />
-10<br />
(0.2)<br />
139.9<br />
128.1<br />
181.8<br />
173.5<br />
100 -20<br />
-30<br />
(31.8)<br />
0<br />
Null J F M A M J J A<br />
Null Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec<br />
DA AND PROFESSIONAL INVESTORS IN OTHER REGIONS<br />
CuMulATiVE EQuiTY ETP FloWS 1 CuMulATiVE FiXED inCoME ETP FloWS 1<br />
YTD 2013 Equity Flows: $138.5bn<br />
YTD 2013 Fixed Income Flows: $18.9bn<br />
Quelle: BlackRock Asset Management, ETF Landscape Industry Highlights, Ende August 2013<br />
[ 4 ]<br />
Seite 39 EXTRA-Magazin Oktober 2013