Mon, 20/05/2019 - 10:31
Trends in investors’ asset allocations in April followed the same path as the previous month with recent events failing to have a particular impact, according to Amundi’s latest ETF Market Flow analysis which revels total flows of EUR3.6 billion into European ETFs during the month.
Equity ETFs continued to suffer outflows with investors buying global equities, which gathered EUR1.2 billion of net new assets, while continuing to sell Eurozone stocks (-EUR2 billion) and starting to sell US equity ETFs in a limited proportion.
Inflows on global Emerging Markets Equities were even bigger compared to previous months, showing that EM exposures are regaining investors’ attention, amounting to close to EUR930 million of new net assets during the month.
In terms of smart beta, flows were very positive (+EUR1.4 billion) in April, compared to last month. Mostly on the back of defensive factors (quality and minimum volatility).
In addition, interest in SRI continues to grow in Europe where flows to sustainable ETFs were close to EUR270 million, mainly to global equities, followed by Europe and Emerging Markets stocks.
In Europe, Fixed Income ETFs continued to benefit from inflows in April, but at a lower scale compared to the previous months.
On the government debt side, emerging countries continued to be favoured by European investors, with close to EUR1 billion of net new assets.
On the Corporate side, April saw a switch compared to last month in Europe, this time high yield Eurozone bonds are in the top of the month inflows, with EUR965 million of new net assets, followed by Eurozone investment grade credit, amounting close to EUR765 million of inflows.
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