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October 2013 represented another strong month for the global exchange-traded funds (ETFs) and exchange-traded products (ETPs) industry, with net inflows of $32.6 billion combining with positive market performance to push global ETF/ETP assets up to a new record high of $2.3 trillion, according to London-based consultancy ETFGI.
Deborah Fuhr, Managing Partner at ETFGI, said: “The expectation that the Federal Reserve will maintain its QE scheme at its current size into 2014 and positive market performance encouraged investors to put net inflows of $32.6 billion back into the market through ETFs/ETPs.”
During the month, equity products gathered the largest net inflows with $34.6 billion, while commodity products experienced the largest net outflows with $2.8 billion followed by fixed income that had net outflows of $227 million.
Year to date (YTD) through end of October, global ETF/ETP assets have increased by 19% based on positive market performance and net inflows of $202.2 billion, which is in line with the level of net inflows at this point in 2012.
Equity ETFs/ETPs have gathered the largest net inflows YTD with $193.9 billion which is significantly higher than the $112.7 billion at this point in 2012, followed by fixed income with inflows of $21.4 billion which is less than half the $56.2 billion gathered by this point in 2012. Commodity ETFs/ETPs experienced outflows $33.0 billion which is a reversal of the $20.1 billion net inflows over the same period in 2012.
Within the equity asset class, North American equity ETFs/ETPs have gathered the largest net inflows YTD with $117.7 billion, followed by developed Asia Pacific equity with $32.8 billion, and developed European equity with $20.7 billion. Emerging market equity ETFs/ETPs have experienced net outflows YTD of $6.3 billion.
At the provider level, Vanguard ranks first based on net inflows with $51.6 billion, iShares is second with $51.3 billion of net inflows, followed by WisdomTree with $12.8 billion, and PowerShares with US$12.6 billion. SSgA SPDR takes the fifth spot with $9.5 billion of net inflows.