Global ETF outflows in May hit €8.4bn

Global ETF outflowsGlobal exchange-traded fund (ETF) outflows increased to €8.4 billion throughout May, as investors continued to withdraw cash across the board.

Equity ETFs were hit hardest, seeing more than €18.3 billion in outflows worldwide, compared to a more positive April with inflows of €28 billion.

On a European level, both equities and fixed income asset classes had a positive month with inflows of €62 million and €716 million, respectively.

Outflows were primarily driven by sectors and smart beta exposures (-€6.8 billion), followed by North America stocks (-€4.2 billion). Global equities faired well, however, with nearly €3 billion in inflows, according to French asset manager Amundi’s monthly ETF flow report.

On the fixed income side, the outlook was generally more positive with €11.4 billion of inflows. The asset class didn’t perform quite as well as April, however, which had €12.3 billion new cash.

Investors paid more attention to aggregate bonds, which had €5.7 billion. Government debt ETFs attracted €4.2 billion, while corporate bond ETFs had outflows of €972 million.

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