It was the best month ever for Europe, Middle East and Africa (Emea)-listed developed market equity ETPs, according to a report.
The BlackRock ETP Landscape Report said Emea-listed ETPs gathered $7.8 billion (€6.7 billion) in October up from $6.9 billion in September. Net inflows across asset classes hit $81 billion year-to-date, beating the record set in 2015.
Global ETPs gathered $58.5 billion (€50.4 billion) in October, propelling year-to-date industry flows to $517.1 billion and eclipsing last year’s record full-year total, the report said. The flows were led by US broad global and broad emerging markets equity exposures.
US equities drew in $30.5 billion driven by a rebound in large caps and faster flows to small-caps amid strong earnings reports and renewed optimism for tax reform.
While European investors continue to invest in European equities, US investor appetite seems to have cooled. Recent US dollar gains might have encouraged US investors to return to domestic, US dollar-earning equities.
Broad emerging market equities maintained momentum, gathering $4.6 billion this month, focused in the week leading up to China’s Communist Party Congress.
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