The Markets August 12, 2013

ETFs Pull In More Than $42B in July

Exchange-traded fund (ETF) assets in the U.S. received more than $42 billion of inflows in the month of July.
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According to State Street Global Advisors’ most-recent “ETF Snapshot” report, this increased year-to-date inflows to $114 billion. The report, which now includes global data, shows Europe experienced inflows of $3.2 billion in July, increasing its year-to-date inflows to $7.1 billion. The Asia-Pacific region and Canada had minor outflows.

In terms of global performance by asset class, MSCI AC World IMI increased 4.9%, while MSCI EAFE gained 5.3%. Emerging markets returned 1%, while Emerging Markets Small Cap gained 0.3%. U.S. large-cap, mid-cap and small-cap markets were all positive, returning 5.1%, 6.2% and 6.8%, respectively. The Global Aggregate increased 1.3% and the Global Treasury Ex-U.S. added 1.9%. The U.S. high yield, U.S. aggregate and U.S. corporate bond markets were all positive in July. The U.S. REIT [real estate investment trust] market was up 0.8%. Commodities were positive, with the Dow Jones-UBS Commodity Index gaining 1.4% and gold jumping 10.3%.

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Global exchange-traded fund flows by asset class topped $45 billion in July. Equity had a leading $41.3 billion of inflows. The equity inflows were driven by the developed large-cap equity category, which had $18.8 billion in inflows. The Commodity asset class had outflows of $2.8 billion, most of which came from precious metals. Precious metals has $30.7 billion in outflows year to date.

The top three families in the global exchange-traded fund marketplace were BlackRock, State Street and Vanguard. Collectively, they account for approximately 71% of the global ETF market.

Products August 12, 2013

Data Tool Tracks ETFs, Mutual Funds

Broadridge has debuted an online tool displaying views into long-term mutual fund and exchange-traded fund (ETF) sales and asset data collection.
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Fund Distribution Intelligence offers monthly, quarterly, annual and total market assets under management by channel as well as geography, providing insight into the distribution of more than $7 trillion mutual fund and exchange-traded fund assets across 900+ distributors. Firms can use the data to make decisions about distribution, product development, and sales and marketing; to allocate resources; and to accelerate growth.

According to figures released by Broadridge’s Access Data, the independent broker/dealer (B/D) channel continued to grow in absolute dollars, accounting for the most mutual fund and exchange-traded fund assets on the books of third-party distributors with $1.82 billion in the second quarter of 2013, compared with $1.47 billion in the same quarter last year. Registered investment advisers (RIAs) ranked second, accounting for nearly $1.50 billion, followed by wirehouses, which represented $1.46 billion in the second quarter of this year. However, percentage-wise, the discount channel experienced the largest growth year-to-date compared with 2012, with a 27% increase. On a quarterly basis, the private bank channel experienced the largest percentage increase from the second quarter of 2012, with a nearly 37% increase.

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Frank Polefrone, senior vice president, Access Data, called Fund Distribution Intelligence a good resource for the fund industry to access updated and complete distribution channel trends. “While IBDs and RIAs continue to serve as key distributors of long-term mutual funds and ETFs—a trend that began over the last couple of years—private banks are emerging as important growth channels,” Polefrone said.

More information about the tool is here. 

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