US equity inflows see jump

Flows into US equity funds hit their highest level in over a year during the first week of November, despite over $3 billion (€2.4 billion) worth of redemptions from actively managed funds.

Equity funds took in $17.4 billion during the week ending 5 November, with US equity funds making up over 85% of that total, according to research carried out by data provider, EPFR Global, which tracks over $23.7 trillion in total assets.

In contrast, other developed markets equity funds suffered outflows, such as Europe, Japan and Canada equity funds, which all saw outflows in excess of $400 million.

US high yield bond funds saw strong inflows, hitting their highest level in over a year as risk-appetite among fixed income investors continues to rally. US money market funds posted inflows of $7.4 billion, but were surpassed by those in Europe, which took in over $11 billion during the month.

Separate research from ETFGI shows that in October, exchange-traded products (ETPs) saw net inflows of $8.7 billion, with equity ETPs gathering the largest net inflow of $5.2 billion. Fixed income followed with a net $3.6 billion in new money, and commodity ETPs had net outflows of $83 million.

Meanwhile, assets under management in US-listed ETPs reached a record high of $1.92 trillion at the end of October.

BlackRock’s ETP landscape report for October showed a surge in global ETP flow during the month was driven by all time high inflows for fixed income.

Europe also saw success in ETPs, as European-listed products have reached a record $56.2 billion in net new assets this year-to-date, gathering $8.7 billion during October alone.

©2014 funds europe

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