Amundi reports on December ETF asset flows

Amundi ETF writes that the global ETF market attracted +EUR495 billion in 2019 and +EUR82 billion during the month of December. The firm writes that the positive scenario remains resilient for both equity and fixed income asset classes.

Equity inflows amounted to +EUR64 billion in December and +EUR250 billion all over the year while bonds inflows totalled +EUR18 billion in December and +EUR228 billion in 2019 overall. 

During the last month of the year, equity flows were driven by North America stocks that gathered +EUR32.7 billion, followed by Emerging Market exposures with +EUR14.4 billion and World equity ETFs +EUR11 billion. The firm notes that fixed income ETFs keep on attracting positive flows as well: in December investors preferred Aggregate +EUR7.6 billion and Corporate +EUR6.8 billion bonds. 

In Europe, Amundi reports that equity flows followed the same positive trend observed at the global level (+EUR13 billion) in December and (+EUR48 billion) over the year.

Looking at specific exposures, as observed at a global level, investors focused on US and North America equity ETFs that lead inflows (+EUR4.2 billion), followed by EM ETFs (+EUR3 billion).

 SRI equity ETFs kept on attracting consistent flows, with close to EUR2.5 billion net new assets in December.

Flows to Smart beta ETFs were positive too (+EUR1.5 billion), with Value (+EUR726 million) and Size (+EUR583 million) on the top of the list. Meanwhile Min Vol ETFs suffered withdrawals (-EUR649 million).

Within sectors, Financials (+EUR544 million) and Health Care (+EUR272 million) stocks remained in a positive scenario.

Amundi notes that, looking at the Fixed Income asset class, flows were also positive, with (+EUR4.5 billion in December and close to (+EUR55 billion) over the year.
Looking at specific exposures, in December, flows were balanced between corporate bonds (+EUR2.06 billion) and government debt (+EUR2.02 billion), while, over the year, corporate bonds were preferred by investors and attracted (+EUR28.6 billion) vs (+EUR22 billion) for government debt.
Among corporate bonds, investors preferred Eurozone, Amundi notes, which gathered (+EUR608 million) in December and (+EUR13 billion) over the year.
On the government debt side, last month investors turned their attention to US short-term exposures that gathered (+EUR648 million) net new assets. Over the year, EM govies were the main collectors with (+EUR7.8 billion) of inflows.

In terms of commodities, Amundi writes that inflows to gold funds benefited from an acceleration at the end of the year gathering (+EUR125 million) net new assets in December and around (+EUR700 million) overall in 2019.

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Beverly Chandler
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Managing Editor