BlackRock U.S. ETP Landscape

Size: px

Start display at page:

Download "BlackRock U.S. ETP Landscape"

Spencer Robinson
6 years ago
Views:

1 BlackRock U.S. ETP Landscape May 2017 The opinions expressed are as of May 31, 2017 and may change as subsequent conditions vary.

2 Summary U.S. ETP flows of $28.4bn during May push assets closer to $3 trillion milestone Industry assets crossed $2.9 trillion with organic growth rising from 13% last year to 19% (annualized) this year Non-U.S. equity funds experienced record flows of $16.6bn for the month, including broad Europe accelerating to $4.9bn following the French election, EAFE setting an all-time high with $8.6bn and broad EM reaching a ninemonth high of $4.4bn Fixed income remained on track for a second consecutive record year by gathering another $10.3bn, led by investment grade flows of $4.3bn followed by Multi-sector with $2.2bn BlackRock ETP Research A cross-regional team analyzing global markets to deliver insights on the intersection of investment trends and ETP flows For inquiries, contact ETPresearch@BlackRock.com U.S. ETP Highlights...3 ETP Flows by Exposure...4 [ 2 ]

3 U.S. ETP Highlights Spotlight on Broad Europe Equity Annual Broad Europe Equity Flows 2012 through year-to-date 2017 Broad Europe equity ETP inflows of $4.9bn during May were propelled by unhedged flows of $4.7bn which were the best on record. The yearto-date total reached $9bn. Broad Europe flows have been volatile the past three years: was a record year driven by the expansion of the ECB stimulus plan and anticipation of further dollar strengthening versus the Euro, which led to more flows for currency-hedged funds listed in the U.S. Europe unhedged Europe hedged was marked by a swing to outflows due to Brexit concerns and the loss of momentum for currencyhedged funds as the exchange rate stabilized has brought renewed inflows as the outlook for European economic growth improves (22) YTD 2017 U.S.-LISTED ETP ASSETS 1 ($bn) (US$bn) 3,000 2,000 1,000 0 Equity Fixed Income Commodities & Others ,350 1,012 1,062 1,701 2,009 2, May ,544 2,911 [ 3 ]

4 U.S. ETP Flows by Exposure (US$bn) Month Flows YTD Flows Current Assets Equity U.S. (3.4) ,685 Broad Developed Markets Europe Asia-Pacific Canada (0.2) (0.6) 3 Developed Equity ,155 Broad Single Country Regional (0.2) Emerging Markets Equity Equity Total ,345 Fixed Income Investment Grade Corp HY Corp (0.9) Broad U.S. Government Municipal Emerging Markets Sovereign 0.2 (0.1) 2 Other Fixed Income Fixed Income Total Commodities Gold (0.3) Silver Crude Oil (0.1) Agriculture Energy Other Commodities (0.4) (0.7) 6 Other Precious Metals (0.0) Commodities Total (0.6) Alternatives Currency (0.3) (0.5) 3 Grand Total ,911 [ 4 ]

5 Endnotes Exchange traded products (ETPs) are portfolio exposure securities that trade intra-day on an exchange The ETP (or exchange traded product) category encompasses any portfolio exposure security that trades intra-day on an exchange. Product level information is aggregated by provider, asset class, exposure, region listed and replication method to produce the various analyses in the report. 1. Data is as of May 31, ETP flows and assets are sourced from Markit, as well as BlackRock internal sources. Flows for the years between 2010 and 2015 are sourced from Bloomberg as well as BlackRock internal sources. Flows for years prior to 2010 are sourced from Strategic Insights Simfund. Asset classifications are assigned by the BlackRock based on product definitions from provider websites and product prospectuses. Other static product information is obtained from provider websites, product prospectuses, provider press releases, and provider surveys. Index returns are for illustrative purposes only and do not represent actual Fund performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. ABOUT BLACKROCK BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2017, BlackRock s AUM was $5.4 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, ishares ETFs (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions. As of March 31, 2017, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. [ 5 ]

6 Disclaimer This material is solely for informational and educational purposes and represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events, or a guarantee of future results. This publication does not provide financial, investment or tax advice or information relating to the securities of any particular fund or other issuer. The information and opinions included in this publication are based on publicly available information, are subject to change and should not be relied upon for any purpose other than general information and education. This publication has been prepared without regard to the individual financial circumstances and objectives of those who receive it and the types of securities discussed in this publication may not be suitable for all investors. The information included in this document has been taken from trade and other sources considered to be reliable. This document is published in good faith but no representation or warranty, express or implied is made by BlackRock or by any person as to its accuracy or completeness and it should bot be relied on as such. BlackRock or any of its directors, officers, employees or agents shall have no liability for any loss or damage arising out of the use or reliance on the material provided including without limitation, any loss of profit or any other damage, direct or consequential. Any opinions expressed in this document reflect our analysis at this date and are subject to change. This is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any strategy in any jurisdiction. This document has not been prepared, reviewed or distributed by any broker-dealer affiliate of BlackRock and should not be deemed a product of any such affiliate. In Latin America, for Institutional and Professional Investors Only. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds have not been registered with the securities regulator of Brazil, Chile, Colombia, Mexico, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. No information discussed herein can be provided to the general public in Latin America BlackRock, Inc. All rights reserved. ishares and BLACKROCK are registered trademarks of BlackRock, Inc., or its subsidiaries. All other marks are the property of their respective owners. [ 6 ]

BlackRock Global ETP Landscape

BlackRock Global ETP Landscape Industry Highlights May 2017 The opinions expressed are as of May 31, 2017 and may change as subsequent conditions vary. ONLY FOR ACCREDITED INVESTORS IN CANADA,QUALIFIED