ETFs/ETPs listed in the United States gathered record inflows of $47 billion during February, marking the 12th consecutive month of positive net inflows for the country, according to research from London-based ETF industry consultant ETFGI.
Year to date (28 February 2017), net inflows of US-listed ETFs/ETPs stand at $89.2bn.
As of the month’s end, assets under management (AUM) in the US ETF/ETP industry reached a new record high of $2.758 trillion, surpassing the prior record of $2.641tn set at the end of January 2017. The figures indicate that an increase in value of $70bn of existing ETF/ETP assets contributed to the new record as strong global equity market performance boosted funds.
Deborah Fuhr, managing partner and co-founder of ETFGI, commented: “The US equity market performed strongly in February with the S&P 500 up 4.0% and the DJIA was up 5.2%. International equity markets continued to perform well in February with the S&P Developed Ex-US BMI up 1.4% while the S&P Emerging BMI was up 3.5%.”
Record levels of AUM were also reached at the end of February 2017 for ETFs/ETPs listed globally at $3.844tn, Europe at $620bn, Asia Pacific ex Japan at $136bn, Japan at $198bn and in Canada at $91bn.
Echoing the concerns of analysts globally, Fuhr noted several risk factors that may act as headwinds to equity markets driving ETF/ETP AUM higher. She said: “There are significant upcoming political and economic events that investors will be watching in Europe in the next two months: the first round of the French election, a Dutch general election, the beginning of the UK’s “Brexit” negotiations and, officials from the EU and the IMF are once again locked in negotiations over the Greek bailout.”
Year to date (YTD), net inflows of US-listed ETFs/ETPs stand at $89.2bn.
Equity ETFs/ETPs gathered the largest net inflows in February with $30.4bn, bringing YTD net inflows to $58.9bn; Fixed income ETFs and ETPs experienced net inflows of $11.2bn in February, growing YTD net inflows to $23.7bn; and commodity ETFs/ETPs accumulated net inflows of $3.9bn in February with YTD net inflows standing at $4.1bn.
iShares was the most successful gatherer of net new ETF/ETP assets in the US for February with $14.3bn, followed by Vanguard with $13.1bn and SPDR ETFs with $9.7bn net inflows.
YTD, iShares gathered the largest net ETF/ETP inflows with $30.1bn, followed by Vanguard with $27.9bn and SPDR ETFs with $11.1bn net inflows.
At the end of February 2017, the US ETF/ETP industry had 1,995 ETFs/ETPs from 109 providers on three exchanges.