The Industry Highlights of the BlackRock ETP Landscape series of reports provides commentary on the global Exchange Traded Product (ETP) industry as of April 2015.
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BROAD EM EQUITY, CURRENCY-HEDGED EQUITY AND FIXED INCOME HIGHLIGHT APRIL ETP FLOWS
- Global ETP inflows moderated to $6.5bn in April, reflecting renewed momentum for fixed income flows as well as mixed results for equities ever since the U.S. Fed took a more cautious stance during its mid-March meeting
- Broad EM equity funds gathered $2.5bn, the first notable inflows since last August, though additional A-shares ETP selling drove China equity outflows of ($7.7bn) with investors shifting focus to less expensive H-shares
- Despite a pause in U.S. dollar appreciation, strengthening is expected to resume and currency-hedged equity ETPs accumulated another $11.2bn
- Fixed income flows accelerated amid uncertainty over the pace of global economic growth, bringing in $9.9bn spread across U.S. Treasuries and TIPS as well as higher-yielding corporate bonds and EM debt
- U.S. equity outflows accelerated to ($15.5bn), reflecting weakness for both large and small cap funds
Sources: BlackRock, Bloomberg.